Guideline Value for Baby Nagar Pattukottai Muthu Kumaraswamy Street

Baby Nagar Pattukottai Muthu Kumaraswamy Street guideline value

The current guideline value of Baby Nagar Pattukottai Muthu Kumaraswamy 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 is classified as Residential Class II Type - II.

How the guideline value of Baby Nagar Pattukottai Muthu Kumaraswamy Street has changed

The guideline value for Baby Nagar Pattukottai Muthu Kumaraswamy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 4,400 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The guideline value then saw a 10% increase from 2023 to 2024, bringing it to the current rate of Rs 4,400 per sq.ft.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, 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 value of Baby Nagar Pattukottai Muthu Kumaraswamy Street. Below are other streets in Velachery with their respective guideline values:

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

Stamp duty and registration fee for property in Baby Nagar Pattukottai Muthu Kumaraswamy 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 at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Baby Nagar Pattukottai Muthu Kumaraswamy Street?

The Sub Registrar Office that covers Baby Nagar Pattukottai Muthu Kumaraswamy 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 information.

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

When buying or selling property in Velachery, the guideline value is a crucial factor in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly documented and taxed according to the prevailing regulations.

Understanding the guideline value is essential for buyers and sellers alike, as it helps in estimating the overall costs involved in property transactions. It also provides a standard reference point for assessing property values in the area.

Frequently asked questions

What is the current guideline value of Baby Nagar Pattukottai Muthu Kumaraswamy Street?

The current guideline value of Baby Nagar Pattukottai Muthu Kumaraswamy 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 multiple times, with the most recent revision in 2024 increasing it to Rs 4,400 per sq.ft. The value was Rs 4,000 per sq.ft in 2023 and Rs 2,680 per sq.ft in 2017.

What are the other streets in Velachery with similar guideline values?

Other streets in Velachery with a guideline value of Rs 4,400 per sq.ft include Baby Nagar Main Road Extn, Baby Nagar Service Road / Salai, and Baby Nagar 6th Cross Street.

What are the stamp duty and registration fees for property in this area?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Baby Nagar Pattukottai Muthu Kumaraswamy Street?

The Sub Registrar Office for this street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.