Guideline Value for Baba Nagar First Prathana Salai

Baba Nagar First Prathana Salai guideline value

The current guideline value of Baba Nagar First Prathana Salai 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 First Prathana Salai has changed

The guideline value for Baba Nagar First Prathana Salai has seen significant changes over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. Following this, there was a substantial rise to Rs 800 per sq.ft in 2007, and then it surged dramatically to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +8%. The jump from 2003 to 2007 was +95%, followed by a staggering +525% from 2007 to 2012. The value then fell by -33% from 2012 to 2017. After that, there was a significant increase of +49% from 2017 to 2023, and the latest revision from 2023 to 2024 saw a rise of +10%. Overall, from 2002 to 2024, the guideline value has increased by +1355%.

Guideline values in Konnur

Konnur village has 249 streets under the Konnur SRO with a 2024 guideline value range from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Baba Nagar First Prathana Salai above this median.

• Baba Nagar and Others Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar Nethaji Nagar: Rs 5,500 per sq.ft (2024)
• Baba Nagar 9th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar Second Prathana Salai: Rs 5,500 per sq.ft (2024)
• Baba Nagar 8th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar Third Prathasa Salai and Velumani Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar First Prathana Salai

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, making the total fees together Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baba Nagar First Prathana Salai?

The Sub Registrar Office that covers Baba Nagar First Prathana Salai 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 in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. This value is regularly updated to align with changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Baba Nagar First Prathana Salai?

The current guideline value of Baba Nagar First Prathana Salai is Rs 5,500 per sq.ft as per the 2024 revision.

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%.

What is the classification of land in Baba Nagar First Prathana Salai?

Baba Nagar First Prathana Salai is classified as Residential Class I Type - I.

Where can I find the Konnur Sub Registrar Office?

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

How is stamp duty calculated for properties in Baba Nagar First Prathana Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.