Guideline Value for Babu Street

Babu Street guideline value

The current guideline value of Babu Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Babu Street has changed

The guideline value for Babu Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 7,000 per sq.ft. Prior to 2023, the register has no figure for this street in 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. The previous revisions do not provide any figures for Babu Street, indicating that the value has remained unrecorded in those years.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Babu Street's 2024 figure below that median.

• Babu Lane: Rs 7,700 per sq.ft (2024)
• Ayya Street: Rs 7,700 per sq.ft (2024)
• Bajooriars Street: Rs 7,700 per sq.ft (2024)
• Bakthavatsalam Street: Rs 7,700 per sq.ft (2024)
• Avvai Shanmugam Salai (Lloyds Road): Rs 13,200 per sq.ft (2024)
• Austin Nagar 2nd Street: Rs 12,100 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 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total charges to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Babu Street?

Babu Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the fees based on the property's value. This ensures that all transactions are conducted transparently and fairly according to the established rates.

Frequently asked questions

What is the current guideline value of Babu Street?

The current guideline value of Babu Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft, which is higher than the current guideline value of Babu Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

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

The Sub Registrar Office covering Babu Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information about it online.