Guideline Value for BABU RAJENDRA PRASAD ROAD/BABU RAJENDRA PRASAD 1ST STREET/BABU RAJENDRA PRASAD STREET

Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street guideline value

The current guideline value for Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street has changed

The guideline value for this street has seen several revisions over the years. In the 2017 revision, the guideline value was Rs 7,370 per sq.ft. This increased significantly to Rs 11,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the guideline value at Rs 12,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, 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 Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street above that median.

• Babu Rajendra Prasad 2 Street: Rs 8,800 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 Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total cost for these fees to Rs 10,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street?

The Sub Registrar Office that covers this 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 information.

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

When buying or selling property in Mambalam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in estimating the overall costs involved in property transactions. It also ensures compliance with legal requirements during the registration of property transactions.

Frequently asked questions

What is the current guideline value for Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street?

The current guideline value for Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street is Rs 12,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, rising from Rs 7,370 per sq.ft to the current Rs 12,100 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for this street in 2023 was Rs 11,000 per sq.ft. This represented a 49% increase from the previous 2017 figure.

What are the registration fees for property in this area?

The registration fees for property in this area include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.