Guideline Value

Corporate

Guideline Value for BABU NAGAR

₹2750/sq.ft.

The guideline value for Babu Nagar in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹170 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹146 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Babu Nagar

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Babu Nagar guideline value

The current guideline value of Babu Nagar, located in Medavakkam village under the Chennai South Joint I SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Babu Nagar has changed

The guideline value for Babu Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 146 per sq.ft, which increased to Rs 170 per sq.ft in 2003. Following this, there was a substantial rise to Rs 300 per sq.ft in 2007. The value then jumped dramatically to Rs 2,500 per sq.ft in 2012, before decreasing to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 2,750 per sq.ft.

When examining the changes, the increase from 2017 to 2023 was 49%, while the jump from 2023 to 2024 is noted at 10%. The most significant change occurred between 2007 and 2012, with a rise of 733%. Overall, from 2002 to 2024, the guideline value has increased by 1,784%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Babu Nagar's 2024 guideline value of Rs 2,750 per sq.ft is above this median.

Stamp duty and registration fee for property in Babu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Babu Nagar?

The Sub Registrar Office that covers Babu Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Medavakkam

The guideline value is a crucial factor in property transactions in Medavakkam. It determines the minimum price at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the duty is charged based on the guideline value. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Babu Nagar?

The current guideline value of Babu Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 146 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1,784%.

What is the land classification for Babu Nagar?

Babu Nagar is classified as Commercial Class I Type - III. This classification impacts the guideline value and potential uses of the land.

What are the stamp duty and registration fees for a property in Babu Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Babu Nagar located?

The Sub Registrar Office for Babu Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.