Guideline Value for Baba Nagar 3rd street and Cross Street

Baba Nagar 3rd street and Cross Street guideline value

The current guideline value for Baba Nagar 3rd street and Cross Street is Rs 5,500 per sq.ft. 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 3rd street and Cross Street has changed

The guideline value for Baba Nagar 3rd street and Cross Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 378 per sq.ft. It increased to Rs 410 per sq.ft in 2003, followed by a substantial rise to Rs 800 per sq.ft in 2007, marking a 95% increase. In 2012, the value adjusted to Rs 5,000 per sq.ft, reflecting a decrease of 33%. The 2017 revision saw another increase to Rs 3,350 per sq.ft, and by 2023, it reached Rs 5,000 per sq.ft. The most recent revision in 2024 set the guideline value 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%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Konnur

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

• Baba Nagar 2nd 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)
• Baba Nagar 1st street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 5th 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 6th street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 3rd 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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baba Nagar 3rd street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 3rd 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 critical factor in the registration process for property transactions in Konnur. It determines the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Baba Nagar 3rd street and Cross Street?

The current guideline value of Baba Nagar 3rd 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%.

What are the other streets in Konnur with the same guideline value?

Other streets in Konnur with the same guideline value of Rs 5,500 per sq.ft include Baba Nagar 1st, 2nd, 4th, 5th, 6th, and 17th streets.

What is the role of the guideline value in property transactions?

The guideline value plays a crucial role in property transactions as it sets the minimum value for registration, affecting the stamp duty and registration fees payable during the process.

Where can I find the Sub Registrar Office for Baba Nagar 3rd street and Cross Street?

The Sub Registrar Office covering Baba Nagar 3rd street and Cross Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.