Guideline Value for BABU RAJENDRA PRASAD 2 STREET

Babu Rajendra Prasad 2 Street guideline value

The current guideline value of Babu Rajendra Prasad 2 Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Babu Rajendra Prasad 2 Street has changed

The guideline value for Babu Rajendra Prasad 2 Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 693 per sq.ft. This increased to Rs 1,200 per sq.ft in 2003, marking a rise of 73%. The 2007 revision saw a further increase to Rs 2,000 per sq.ft, which was a 67% change. The value then jumped to Rs 8,000 per sq.ft in 2012, reflecting a 300% increase. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The guideline value rose to Rs 8,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years between 2002 and 2003, 2007 and 2012, and 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,170%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, placing Babu Rajendra Prasad 2 Street's 2024 figure above that median.

• Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street: Rs 12,100 per sq.ft (2024)
• Bakthavatsalam Street: Rs 7,700 per sq.ft (2024)
• Balaji Singh Street: Rs 7,700 per sq.ft (2024)
• ARYA GOWDA ROAD(D.No 11 to 25 NORTH TO SOUTH): Rs 15,400 per sq.ft (2024)
• Balakrishna Street: Rs 7,700 per sq.ft (2024)
• Arangappan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Rajendra Prasad 2 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Babu Rajendra Prasad 2 Street?

The Sub Registrar Office covering Babu Rajendra Prasad 2 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold. The registration authority uses this value to ensure that properties are registered at a fair price, reflecting the current market conditions.

When you proceed with a property transaction, the guideline value helps in calculating the applicable charges. Buyers must be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Babu Rajendra Prasad 2 Street?

The current guideline value of Babu Rajendra Prasad 2 Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 693 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 1,170% over this period.

What is the stamp duty for property in Babu Rajendra Prasad 2 Street?

The stamp duty for property in Babu Rajendra Prasad 2 Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Babu Rajendra Prasad 2 Street?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Babu Rajendra Prasad 2 Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

Where can I find more information on guideline values in Mambalam?

You can find more information on guideline values in Mambalam by referring to the registration department's guideline value register or visiting the respective links for other streets in the area.