Guideline Value for Babu Cross Street

Babu Cross Street guideline value

The current guideline value of Babu Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Babu Cross Street has changed

Over the years, the guideline value of Babu Cross Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, reflecting a 10% rise. Prior to that, in 2017, the guideline value was Rs 1,675 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007.

In the earlier revision of 2012, the value was Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, comparing the 2012 figure to the current 2024 rate, there has been a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value across these streets is Rs 1,650 per sq.ft, placing Babu Cross Street's 2024 figure above that median.

• Babu Street: Rs 2,750 per sq.ft (2024)
• Bagawath Singh Street: Rs 1,650 per sq.ft (2024)
• Ayyappa Nagar: Rs 3,300 per sq.ft (2024)
• AS.P.I Colony 3rd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 2nd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 1st street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Babu Cross Street?

Babu Cross Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property in Chitlapakkam, it is crucial to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure that they are informed about the applicable rates to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Babu Cross Street?

The current guideline value of Babu Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, with various increments and a decrease noted in the 2012 revision.

What is the classification of Babu Cross Street?

Babu Cross Street is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

Where can I find the Sub Registrar Office for Babu Cross Street?

The Sub Registrar Office covering Babu Cross Street is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Babu Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.