Guideline Value for Babu Nagar

Babu Nagar guideline value

The current guideline value of Babu Nagar is Rs 505 per sq.ft, effective from 1 July 2024. This area is located in Orathur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Babu Nagar has changed

Over the years, the guideline value of Babu Nagar has seen several revisions. The earliest recorded value is from 2007, at Rs 150 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 233% rise. However, it decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 500 per sq.ft in 2023, reflecting a 49% increase, before reaching the current value of Rs 505 per sq.ft in 2024, a 1% increase.

The register has no figures for the years 2002 and 2003 for this street. Therefore, the most recent revision figures are from 2024, 2023, 2017, 2012, and 2007.

Guideline values in Orathur

In Orathur village, there are 80 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value is Rs 500 per sq.ft, placing Babu Nagar's current value above this median.

• Balaji Avenue: Rs 505 per sq.ft (2024)
• Ashok Nagar: Rs 400 per sq.ft (2024)
• Balaji Nagar: Rs 505 per sq.ft (2024)
• Arthanareeswarar Nagar: Rs 400 per sq.ft (2024)
• Ambal Nagar: Rs 400 per sq.ft (2024)
• Adhithya Garden: Rs 400 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 505 per sq.ft, the total guideline value amounts to Rs 5,05,000. The stamp duty at 7% would be Rs 35,350, and the registration fee at 2% would be Rs 10,100, totaling Rs 45,450. 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 Babu Nagar?

The Sub Registrar Office that covers Babu Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Orathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must ensure that the transaction reflects the guideline value to avoid discrepancies during registration.

When registering a property, the guideline value helps establish a baseline for taxation. It ensures that the government receives appropriate revenue based on the property's value, which is crucial for maintaining local infrastructure and services.

Frequently asked questions

What is the current guideline value of Babu Nagar?

The current guideline value of Babu Nagar is Rs 505 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 505 per sq.ft in 2024, marking an overall increase of 237%.

What is the land classification of Babu Nagar?

Babu Nagar is classified as Residential Special Type - III as per the guideline value register.

Which Sub Registrar Office covers Babu Nagar?

The Gooduvancheri Sub Registrar Office covers Babu Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Babu Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,05,000 would incur a stamp duty of Rs 35,350 at 7%.