Guideline Value for Baba Nagar 1st street and Cross Street

Baba Nagar 1st street and Cross Street guideline value

The current guideline value of Baba Nagar 1st 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 1st street and Cross Street has changed

The guideline value for Baba Nagar 1st street and Cross Street has seen several revisions over the years. Starting with the 2002 revision, 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 saw a significant increase to Rs 800 per sq.ft in 2007, which was a 95% jump. The 2012 revision recorded a value of Rs 5,000 per sq.ft, reflecting a substantial 525% increase from the previous revision. In 2017, the guideline value decreased to Rs 3,350 per sq.ft, a reduction of 33%. The 2023 revision brought the value back up to Rs 5,000 per sq.ft, and the latest revision in 2024 set it at Rs 5,500 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1355%. There are no figures available for the years not mentioned in this summary.

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 for Baba Nagar 1st street and Cross Street exceeds this median.

• Baba Nagar 17th 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)
• Baba Nagar 16th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 3rd street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 15th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 4th street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 1st 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 totaling Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baba Nagar 1st street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 1st street and Cross Street is the Konnur Sub Registrar Office, located at 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 when registering property transactions in Konnur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate duty and fees based on the property's value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Baba Nagar 1st street and Cross Street?

The current guideline value of Baba Nagar 1st 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 from Rs 378 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1355% over this period.

What is the land classification for Baba Nagar 1st street and Cross Street?

Baba Nagar 1st street and Cross Street is classified as Residential Class I Type - I.

Which office handles the registration for Baba Nagar 1st street and Cross Street?

The Konnur Sub Registrar Office handles the registration for Baba Nagar 1st street and Cross Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000.