Guideline Value for Baby Nagar 5th Cross Street

Baby Nagar 5th Cross Street guideline value

The current guideline value of Baby Nagar 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Baby Nagar 5th Cross Street has changed

The guideline value for Baby Nagar 5th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. In 2017, the value decreased to Rs 2,680 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year’s figure of Rs 4,000 per sq.ft.

There are no recorded guideline values for Baby Nagar 5th Cross Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current figure for Baby Nagar 5th Cross Street. Below are other streets in Velachery with their respective 2024 guideline values:

• Baby Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Baby Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Baby Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Baby Nagar Extn: Rs 3,850 per sq.ft (2024)
• Baby Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Baby Nagar Extn V O C Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Baby Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baby Nagar 5th Cross Street?

The Sub Registrar Office that covers Baby Nagar 5th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Velachery. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to assess the applicable duties, which are charged on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Baby Nagar 5th Cross Street?

The current guideline value of Baby Nagar 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Baby Nagar 5th Cross Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Baby Nagar 5th Cross Street?

The Velacheri Sub Registrar Office covers Baby Nagar 5th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Baby Nagar 5th Cross Street?

Baby Nagar 5th Cross Street is classified as Residential Class II Type - II.