Guideline Value for Babu Reddy Avenue

Babu Reddy Avenue guideline value

The current guideline value of Babu Reddy Avenue is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Residential Class III Type - I.

How the guideline value of Babu Reddy Avenue has changed

The guideline value for Babu Reddy Avenue has seen significant changes over the years. In 2003, the guideline value was Rs 216 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This marked a change of +39%. The value then surged to Rs 1,407 per sq.ft in 2017, reflecting a remarkable increase of +369%. By 2023, the guideline value reached Rs 2,099 per sq.ft, showing a +49% rise from the previous revision. The latest revision in 2024 set the value at Rs 2,350 per sq.ft, which is a +12% increase from 2023. The register has no figures for the years 2002 and 2012 for this street.

Overall, from 2003 to 2024, the guideline value has increased by +988%, indicating a substantial rise over the years. The current value is significantly higher compared to earlier revisions, reflecting changes in the real estate landscape in the area.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. Babu Reddy Avenue's 2024 guideline value of Rs 2,350 per sq.ft is above this median.

• Babu Reddy Avenue 2nd Street: Rs 2,350 per sq.ft (2024)
• Babu Reddy Avenue Ist Street: Rs 2,350 per sq.ft (2024)
• Babu Reddy Avenue Kannappan Street: Rs 2,350 per sq.ft (2024)
• Ayathaiamman Koil Street: Rs 2,350 per sq.ft (2024)
• Bakthavatchalam 1st Street: Rs 2,350 per sq.ft (2024)
• Bakthavatchalam 2nd Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Reddy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total fees to Rs 2,11,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babu Reddy Avenue?

Babu Reddy Avenue falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Anakaputhur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate tax revenues from property sales.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Babu Reddy Avenue?

The current guideline value of Babu Reddy Avenue is Rs 2,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 216 per sq.ft to Rs 2,350 per sq.ft in 2024, marking an overall increase of +988%.

What is the registration office for Babu Reddy Avenue?

The registration office covering Babu Reddy Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Babu Reddy Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,350 per sq.ft, the stamp duty would be Rs 1,64,500.

What is the land classification for Babu Reddy Avenue?

Babu Reddy Avenue is classified as Residential Class III Type - I, indicating its designation for residential development within the area.