Guideline Value for Baba Nagar 7th street and Cross Street

Baba Nagar 7th street and Cross Street guideline value

The current guideline value for Baba Nagar 7th 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 7th street and Cross Street has changed

The guideline value for Baba Nagar 7th street and Cross Street has undergone several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by a further increase to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,500 per sq.ft. There are no figures available for the years not listed in the register for this street.

From 2002 to 2024, the overall change in guideline value is +1355%. Notably, from 2012 to 2017, there was a decrease of -33%, while the most recent change from 2023 to 2024 reflects an increase of +10%. The highest increase was observed from 2007 to 2012, which was +525%.

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. The median guideline value for these streets is Rs 3,800 per sq.ft, making the 2024 figure for Baba Nagar 7th street and Cross Street above this median.

• Baba Nagar 6th 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 5th 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)
• Baba Nagar 4th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar and Others Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 7th 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 amounts to 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 7th street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 7th street and Cross Street is the Konnur Sub Registrar Office. The address is Sub Register Office, 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 plays a crucial role 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 buyer must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate taxes are calculated based on the higher amount, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Baba Nagar 7th street and Cross Street?

The current guideline value for Baba Nagar 7th 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, reflecting an overall increase of +1355% over the years.

What is the median guideline value for streets in Konnur?

The median guideline value for streets in Konnur is Rs 3,800 per sq.ft, and Baba Nagar 7th street and Cross Street's value is above this median.

What are the stamp duty and registration fees for property in Baba Nagar 7th street and Cross Street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 3,85,000, and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Baba Nagar 7th street and Cross Street located?

The Sub Registrar Office for Baba Nagar 7th street and Cross Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.