Guideline Value for Baba Nagar 16th street and Cross Street

Baba Nagar 16th street and Cross Street guideline value

The current guideline value of Baba Nagar 16th 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 16th street and Cross Street has changed

The guideline value for Baba Nagar 16th street and Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 378 per sq.ft. This increased to Rs 410 per sq.ft in 2003, followed by a significant rise to Rs 800 per sq.ft in 2007. The value further increased to Rs 5,000 per sq.ft in 2012, but then saw a decrease to Rs 3,350 per sq.ft in 2017. The guideline value was revised to Rs 5,000 per sq.ft in 2023 and has now reached Rs 5,500 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2003, the increase was +8%. The jump from 2003 to 2007 was +95%, followed by a substantial increase of +525% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. After this, there was a notable increase of +49% from 2017 to 2023, and finally, a rise of +10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1355%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in Konnur is Rs 3,800 per sq.ft, making the 2024 figure for Baba Nagar 16th street and Cross Street above this median.

• Baba Nagar 15th 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 14th 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)
• Baba Nagar 13th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 2nd street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 16th 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, bringing the total cost for stamp duty and registration fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Baba Nagar 16th street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 16th 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 information.

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

The guideline value plays a crucial role in the property registration process in Konnur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important to ensure that the sale price is either equal to or above the guideline value, as the stamp duty is charged on the higher of the two. This ensures compliance with local regulations and helps avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Baba Nagar 16th street and Cross Street?

The current guideline value of Baba Nagar 16th street and Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 378 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1355%.

What is the registration office for Baba Nagar 16th street and Cross Street?

The registration office for Baba Nagar 16th 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.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 4,95,000 for these fees.

How does the guideline value affect property transactions in Konnur?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure compliance with local regulations during the registration process.