Guideline Value for Baba Nagar and Others Street

Baba Nagar and Others Street guideline value

The current guideline value of Baba Nagar and Others 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 and Others Street has changed

The guideline value for Baba Nagar and Others Street has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a 525% increase. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, a reduction of 33%. The value rose again in the 2023 revision to Rs 5,000 per sq.ft, and currently stands at Rs 5,500 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 588%.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that have a 2024 guideline value ranging 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 and Others Street above this median.

• Baba Nagar 9th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar First 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 Nethaji Nagar: Rs 5,500 per sq.ft (2024)
• Baba Nagar 7th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar Second Prathana Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar and Others 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 fees to Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baba Nagar and Others Street?

The Sub Registrar Office that covers Baba Nagar and Others Street is the Konnur Sub Registrar Office, located at 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 registering property transactions in Konnur. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring that all transactions adhere to the legal standards set by the government.

When you buy or sell property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Baba Nagar and Others Street?

The current guideline value of Baba Nagar and Others 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 from Rs 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 588% over this period.

What is the stamp duty for property in Baba Nagar and Others Street?

The stamp duty for property in Baba Nagar and Others Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Konnur Sub Registrar Office located?

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

What is the classification of Baba Nagar and Others Street?

Baba Nagar and Others Street is classified as Residential Class I Type - I under the Konnur SRO.