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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

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, which is an increase of 10% from the 2023 revision of Rs 7,000 per sq.ft. Prior revisions for this street in the years 2017, 2012, 2007, 2003, and 2002 do not have any figures recorded in the register.

In summary, the guideline values for Babu Street have seen a notable increase from 2023 to 2024, while earlier years lack recorded figures. The current value reflects the latest assessment as of July 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that Babu Street's current guideline value of Rs 7,700 per sq.ft is below this 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, making the total charges together Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable to property transactions.

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. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value serves as a benchmark for property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When purchasing property, the guideline value is crucial as it often influences the sale price and the associated costs. Understanding the guideline value helps in making informed decisions during real estate transactions.

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 for Babu Street 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 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft. Babu Street's current guideline value is below this median.

What are the stamp duty rates for property in Babu Street?

The stamp duty for property transactions in Babu Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Babu Street located?

The Sub Registrar Office covering Babu Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.