Guideline Value for Baba Nagar 6th street and Cross Street

Baba Nagar 6th street and Cross Street guideline value

The current guideline value for Baba Nagar 6th street and Cross Street is Rs 5,500 per sq.ft. This property 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 6th street and Cross Street has changed

The guideline value for Baba Nagar 6th street and Cross Street has seen several revisions 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 significant rise to Rs 800 per sq.ft in 2007. The 2012 revision saw a drop to Rs 5,000 per sq.ft, but this was followed by a substantial increase to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023 and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value increased by 8% from 2002 to 2003, followed by a 95% rise from 2003 to 2007. The value then decreased by 33% from 2012 to 2017, before increasing by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects a 10% increase. 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 ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, placing Baba Nagar 6th street and Cross Street above this median.

• Baba Nagar 5th 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 4th 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)
• Baba Nagar 3rd street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 9th street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 6th 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, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration would be Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baba Nagar 6th street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 6th 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 is a crucial factor when buying or selling property in Konnur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value for Baba Nagar 6th street and Cross Street?

The current guideline value for Baba Nagar 6th 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, with an overall increase of 1355% from 2002 to 2024. The value has seen various revisions, with the most recent being a 10% increase from 2023 to 2024.

What is the land classification for Baba Nagar 6th street and Cross Street?

Baba Nagar 6th street and Cross Street is classified as Residential Class I Type - I. This classification impacts the guideline value and property usage in the area.

Where can I find the Sub Registrar Office for this area?

The Konnur Sub Registrar Office covers Baba Nagar 6th street and Cross Street. It is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Konnur?

Stamp duty for properties in Konnur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.