Guideline Value for Baba Nagar Nethaji Nagar

Baba Nagar Nethaji Nagar guideline value

The current guideline value of Baba Nagar Nethaji Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area 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 Nethaji Nagar has changed

The guideline value for Baba Nagar Nethaji Nagar 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. Following this, the value saw a significant rise to Rs 800 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, in 2017, it dropped to Rs 3,350 per sq.ft before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +8%. The jump from 2003 to 2007 was +95%, followed by a substantial increase of +525% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. After that, there was a +49% increase from 2017 to 2023, and finally, a +10% rise 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. Baba Nagar Nethaji Nagar's 2024 figure is above this median.

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

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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baba Nagar Nethaji Nagar?

The Sub Registrar Office that covers Baba Nagar Nethaji Nagar 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

When buying or selling property in Konnur, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the correct fees are paid during the registration of property transactions. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Baba Nagar Nethaji Nagar?

The current guideline value of Baba Nagar Nethaji Nagar 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 are the other streets in Konnur with the same guideline value?

Other streets in Konnur with the same guideline value of Rs 5,500 per sq.ft include Baba Nagar First Prathana Salai, Baba Nagar Second Prathana Salai, Baba Nagar and Others Street, Baba Nagar Third Prathasa Salai and Velumani Street, Baba Nagar 9th street and Cross Street, and Baba Nagar 8th street and Cross Street.

What are the stamp duty and registration fees for property in Baba Nagar Nethaji Nagar?

The stamp duty for a property valued at Rs 55,00,000 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 Baba Nagar Nethaji Nagar?

The Sub Registrar Office for Baba Nagar Nethaji Nagar is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.