Guideline Value for Babu Nagar

Babu Nagar guideline value

The current guideline value of Babu Nagar, located in Ammanambakkam village under the Gooduvancheri SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Babu Nagar has changed

The guideline value for Babu Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, it then dropped to Rs 268 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 400 per sq.ft, showing no change from 2023 to 2024. The overall increase from 2007 to 2024 is 167%.

There are no figures available for the years 2002 and 2003 in the register for this street. The 2017 to 2023 period saw a substantial increase of 49%, while the 2012 to 2017 period experienced a decrease of 33%. The 2007 to 2012 period had a remarkable increase of 167%.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 15 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Babu Nagar's 2024 figure below that median.

• Arunachaleeswarar Farm land: Rs 400 per sq.ft (2024)
• Annai Abirami Nagar: Rs 500 per sq.ft (2024)
• Alamelu Mangapuram: Rs 400 per sq.ft (2024)
• David Nagar (Phase-1): Rs 500 per sq.ft (2024)
• David Nagar (Phase-1) Extn: Rs 500 per sq.ft (2024)
• David Nagar (Phase-2): Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that 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 Babu Nagar?

Babu Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, 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 Ammanambakkam

The guideline value is a crucial factor when registering property transactions in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that all parties are aware of the financial obligations involved.

When buying or selling property, the guideline value helps in establishing a fair assessment of the property’s worth for legal and taxation purposes. It is essential for buyers and sellers to be informed about the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Babu Nagar?

The current guideline value of Babu Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the stamp duty rate in Babu Nagar?

The stamp duty rate in Babu Nagar is 7%, which is applied to the higher of the guideline value or the sale price of the property.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, in the Chengalpattu registration zone.

What are the other streets in Ammanambakkam with guideline values?

Other streets in Ammanambakkam include Arunachaleeswarar Farm land, Annai Abirami Nagar, Alamelu Mangapuram, and various phases of David Nagar, with guideline values ranging from Rs 400 to Rs 500 per sq.ft.