Guideline Value for Babu Street

Babu Street guideline value

The current guideline value of Babu Street in Chitlapakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Babu Street has changed

The guideline value for Babu Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Babu Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Babu Street's 2024 figure above this median.

• Babu Cross Street: Rs 2,750 per sq.ft (2024)
• Bagawath Singh Street: Rs 1,650 per sq.ft (2024)
• Ayyappa Nagar: Rs 3,300 per sq.ft (2024)
• AS.P.I Colony 3rd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 2nd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 1st street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Babu Street?

Babu Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a critical reference point during property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees applicable when registering a property, ensuring that the government collects the appropriate taxes based on the property's assessed value.

When buying or selling a property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Babu Street?

The current guideline value of Babu Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being 10% from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024.

What is the land classification for Babu Street?

Babu Street is classified as Residential Class I Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Babu Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 2,47,500.

Where can I find the Sub Registrar Office for Babu Street?

The Tambaram Joint 1 Sub Registrar Office covers Babu Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059.