Guideline Value for BABUJI FARMS

Babuji Farms guideline value

The current guideline value of Babuji Farms, located in Enjambakkam village under the Neelankarai SRO, is Rs 3,900 per sq.ft, as per the 2024 revision effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Babuji Farms has changed

The guideline value for Babuji Farms has seen significant changes over the years. In 2003, the guideline value was Rs 112 per sq.ft, which increased to Rs 1,042 per sq.ft in 2007, marking a substantial rise of 830%. The value then jumped to Rs 3,500 per sq.ft in 2012, reflecting a remarkable increase of 236%. However, the value decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, which is an 11% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3382%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. Babuji Farms' guideline value of Rs 3,900 per sq.ft is above this median.

• Baba Nagar: Rs 2,800 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Australia Avenue: Rs 2,200 per sq.ft (2024)
• Arputha Thotta Salai(Arputha Thottam): Rs 2,200 per sq.ft (2024)
• Arichandran Main Road: Rs 2,800 per sq.ft (2024)
• Arichandran Avenue: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Babuji Farms

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babuji Farms?

The Sub Registrar Office that covers Babuji Farms 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 further assistance.

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

The guideline value is a crucial factor in the property registration process in Enjambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Babuji Farms?

The current guideline value of Babuji Farms is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 112 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Babuji Farms?

Babuji Farms is classified as Residential Class I Type - I land, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Babuji Farms?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

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.