Guideline Value for Babaji Street

Babaji Street guideline value

The current guideline value of Babaji Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Babaji Street has changed

The guideline value for Babaji Street has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 1,300 per sq.ft.

Between these revisions, there were notable changes: from 2007 to 2012, the value increased by 300%. However, it then saw a decrease of 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and finally, there was an 8% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 333%. The guideline value register has no figures for Babaji Street for the years 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Babaji Street's guideline value of Rs 1,300 per sq.ft is below this median.

• Ayyasamy Nagar: Rs 950 per sq.ft (2024)
• Ayyappan Street: Rs 2,400 per sq.ft (2024)
• Avvai Street: Rs 2,900 per sq.ft (2024)
• Avvai Nagar: Rs 2,900 per sq.ft (2024)
• Avvai 4th Street: Rs 2,900 per sq.ft (2024)
• Avvai 3rd Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Babaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please note that the 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 information.

Which Sub Registrar Office covers Babaji Street?

The Sub Registrar Office that covers Babaji Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Selaiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The registration process requires the payment of fees based on this guideline value, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Babaji Street?

The current guideline value for Babaji Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 300 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, while Babaji Street's value is below this median.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Babaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 91,000.