Guideline Value for Babu Garden Phase II&III

Babu Garden Phase II&III guideline value

The current guideline value for Babu Garden Phase II&III is Rs 1,980 per sq.ft. This property is located in Chikkarayapuram village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Babu Garden Phase II&III has changed

The guideline value for Babu Garden Phase II&III has seen significant changes over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012, marking a rise of 367%. However, from 2012 to 2017, the value decreased by 33% to Rs 938 per sq.ft. The 2023 revision saw a substantial increase to Rs 1,800 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,980 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value is Rs 1,980 per sq.ft, which is equal to the guideline value for Babu Garden Phase II&III. Below are the guideline values for other streets in Chikkarayapuram:

• Bajanai Koil Street: Rs 1,980 per sq.ft (2024)
• Bakyam Nagar: Rs 1,760 per sq.ft (2024)
• Balaji Avenue: Rs 1,760 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Balasubramanian Nagar: Rs 1,870 per sq.ft (2024)
• Anu Garden: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Garden Phase II&III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, these fees amount to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Babu Garden Phase II&III?

The Sub Registrar Office that covers Babu Garden Phase II&III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Chikkarayapuram. It serves as a benchmark for determining the minimum price at which properties can be sold or transferred. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Babu Garden Phase II&III?

The current guideline value for Babu Garden Phase II&III is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification for Babu Garden Phase II&III?

The land classification for Babu Garden Phase II&III is Mixed Special Type - I.

Where can I find the registration office for Babu Garden Phase II&III?

The registration office for Babu Garden Phase II&III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Babu Garden Phase II&III?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.