Guideline Value for Baba Nagar 8th street and Cross Street

Baba Nagar 8th street and Cross Street guideline value

The current guideline value for Baba Nagar 8th 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 8th street and Cross Street has changed

The guideline value for Baba Nagar 8th street and Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 378 per sq.ft. This increased to Rs 410 per sq.ft in 2003, followed by a rise to Rs 800 per sq.ft in 2007. The value then jumped dramatically to Rs 5,000 per sq.ft in 2012, before decreasing to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. There are no figures available for the years not listed in the register for this street.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +8%. The value surged by +95% from 2003 to 2007, followed by a substantial increase of +525% from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1355%.

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 8th street and Cross Street is above this median.

• Baba Nagar 7th 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 6th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar and Others Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 5th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar First Prathana Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar 8th 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. The total cost for these fees would be 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 8th street and Cross Street?

The Sub Registrar Office that covers Baba Nagar 8th 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 details.

How the guideline value is used when you buy or sell in Konnur

The guideline value plays a crucial role during the registration of property transactions in Konnur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the authorities.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Baba Nagar 8th street and Cross Street?

The current guideline value for Baba Nagar 8th street and Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much 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, representing an overall increase of +1355%.

What is the land classification for Baba Nagar 8th street and Cross Street?

Baba Nagar 8th street and Cross Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in this area?

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, totaling Rs 4,95,000.

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

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.