Guideline Value for Baba Nagar 5th street and Cross Street

Baba Nagar 5th street and Cross Street guideline value

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

How the guideline value of Baba Nagar 5th street and Cross Street has changed

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

In 2023, the guideline value was revised to Rs 5,000 per sq.ft, and then further increased by 10% to Rs 5,500 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1355% 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 5th street and Cross Street is above this median.

• Baba Nagar 4th 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)
• Baba Nagar 3rd street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 7th 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 8th street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 5th 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, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baba Nagar 5th street and Cross Street?

The Baba Nagar 5th street and Cross Street falls under the Konnur Sub Registrar Office located at 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 is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Baba Nagar 5th street and Cross Street?

The current guideline value for Baba Nagar 5th 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 land classification for Baba Nagar 5th street and Cross Street?

The land classification for Baba Nagar 5th street and Cross Street is Residential Class I Type - I.

What is the stamp duty rate for properties in Konnur?

The stamp duty rate for properties in Konnur is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Baba Nagar 5th street and Cross Street?

The Sub Registrar Office covering Baba Nagar 5th street and Cross Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.