Guideline Value for Babu Garden

Babu Garden guideline value

The current guideline value of Babu Garden in Vallam village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Babu Garden has changed

The guideline value for Babu Garden has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 180 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 456%. However, the value then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The most recent revisions in 2023 and 2024 have maintained the value at Rs 1,000 per sq.ft, showing no change from the previous year.

Notably, the revisions for the years 2002 and 2003 do not have figures recorded for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 456%.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is equal to the guideline value of Babu Garden.

• BhuvanaSri Nagar: Rs 1,000 per sq.ft (2024)
• Ananda kamalam nagar: Rs 1,000 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Madha Koil Street: Rs 750 per sq.ft (2024)
• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Muthamizh Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babu Garden?

Babu Garden is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Vallam

The guideline value plays a crucial role in the registration process when buying or selling property in Vallam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered accurately and legally. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Babu Garden?

The current guideline value of Babu Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and has remained at Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification of Babu Garden?

Babu Garden is classified as Residential Special Type - I under the Chengleput Joint I SRO.

Where can I find the Chengleput Joint I Sub Registrar Office?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Babu Garden?

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 Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, leading to a stamp duty of Rs 70,000.