Guideline Value for Babuji Nagar

Babuji Nagar guideline value

The current guideline value of Babuji Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Babuji Nagar has changed

The guideline value for Babuji Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 32 per sq.ft, which increased to Rs 70 per sq.ft in 2003. The value continued to rise sharply, reaching Rs 400 per sq.ft in 2007, and then saw a substantial jump to Rs 1,400 per sq.ft in 2012. However, it decreased to Rs 938 per sq.ft in 2017 before increasing again to Rs 1,400 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,500 per sq.ft, marking a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 4,588%. The revisions for the years 2012 and 2017 show that there were no figures available for Babuji Nagar during those years, as the register does not provide data for this street.

Guideline values in Kathirvedu

Kathirvedu village has a range of guideline values for its 78 streets under the Ambattur SRO, with the 2024 figures ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Babuji Nagar.

• Bajanai Koil Street: Rs 1,500 per sq.ft (2024)
• Asian Street: Rs 1,100 per sq.ft (2024)
• Bala Murugan Nagar: Rs 1,500 per sq.ft (2024)
• Anna Street: Rs 1,100 per sq.ft (2024)
• Bharathiyar Street: Rs 1,300 per sq.ft (2024)
• Bhavya Avenue: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Babuji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000. Together, the total fees would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babuji Nagar?

The Sub Registrar Office that covers Babuji Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kathirvedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Babuji Nagar?

The current guideline value of Babuji Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 32 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 4,588% over the years.

What are the stamp duty and registration fees for property in Babuji Nagar?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which Sub Registrar Office covers Babuji Nagar?

The Ambattur Sub Registrar Office covers Babuji Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Babuji Nagar?

Babuji Nagar is classified as Residential Class II Type - II, which indicates its designation for residential development within the area.