Guideline Value for Baba Nagar 15th street and Cross Street

Baba Nagar 15th street and Cross Street guideline value

The current guideline value of Baba Nagar 15th street and Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Baba Nagar 15th street and Cross Street has changed

The guideline value for Baba Nagar 15th street and Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 378 per sq.ft. This increased to Rs 410 per sq.ft in 2003, marking an 8% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, which was a 95% increase. In 2012, the value changed to Rs 5,000 per sq.ft, reflecting a 525% increase from the previous revision. However, this figure dropped to Rs 3,350 per sq.ft in 2017, indicating a decrease of 33%.

In 2023, the guideline value increased to Rs 5,000 per sq.ft, followed by a further rise to Rs 5,500 per sq.ft in 2024, which represents a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1355%. There are no figures available for any other revisions for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value of Baba Nagar 15th street and Cross Street is above this median.

• Baba Nagar 14th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 16th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 13th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 17th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 12th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 1st street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 15th street and Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, these fees would total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Baba Nagar 15th street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 15th street and Cross Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Konnur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

During the registration process, the guideline value helps ensure that the property is valued appropriately for taxation purposes. It is essential for both buyers and sellers to understand the guideline value as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Baba Nagar 15th street and Cross Street?

The current guideline value of Baba Nagar 15th street and Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 378 per sq.ft to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1355%.

What is the land classification for Baba Nagar 15th street and Cross Street?

Baba Nagar 15th street and Cross Street is classified as Residential Class I Type - I.

What other streets have the same guideline value in Konnur?

Other streets in Konnur that have the same guideline value of Rs 5,500 per sq.ft in 2024 include Baba Nagar 14th street and Cross Street, Baba Nagar 16th street and Cross Street, Baba Nagar 13th street and Cross Street, Baba Nagar 17th street and Cross Street, Baba Nagar 12th street and Cross Street, and Baba Nagar 1st street and Cross Street.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.