Guideline Value for BABU STREET

Babu Street guideline value

The current guideline value of Babu Street in Sholinganallur - 1 village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Babu Street has changed

In the 2017 revision, the guideline value for Babu Street was Rs 1,340 per sq.ft. The latest revision in 2024 shows a significant increase to Rs 2,200 per sq.ft, marking a change of +64% over this period. The register has no figures for the revisions in 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, there are no figures available for Babu Street in the register for the years 2002, 2003, 2007, and 2012. The 2024 figure aligns with the median guideline value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft, with the median value being Rs 2,200 per sq.ft. Babu Street's 2024 guideline value matches this median. Other streets in Sholinganallur - 1 include:

• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Bakkingam Canal Road: Rs 1,700 per sq.ft (2024)
• Balachandra Builder Park: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Balakrishnan Street: Rs 2,200 per sq.ft (2024)
• Arumugam Street (Grama Nedunchalai 5th Cross Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Babu Street?

The Sub Registrar Office that covers Babu Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Babu Street?

The current guideline value of Babu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value for Babu Street has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of +64%.

Are there any years without guideline values for Babu Street?

Yes, the register has no figures for Babu Street for the revisions in the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is the same as the guideline value for Babu Street in 2024.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.