Guideline Value for Baby Nagar

Baby Nagar guideline value

The current guideline value of Baby Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Baby Nagar has changed

The guideline value for Baby Nagar has seen several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this figure dropped to Rs 804 per sq.ft in 2017, before returning to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The substantial rise from 2007 to 2012 was 586%. Overall, from 2007 to 2024, the guideline value has increased by 586%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the guideline value of Baby Nagar.

• Babu Avenue: Rs 1,300 per sq.ft (2024)
• A.V.N. Street - A.V.N.Nagar: Rs 1,300 per sq.ft (2024)
• Athiparasakthi Nagar: Rs 1,200 per sq.ft (2024)
• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Balaji Nagar Extn: Rs 1,200 per sq.ft (2024)
• Barkavi Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Baby Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 more details.

Which Sub Registrar Office covers Baby Nagar?

The Sub Registrar Office that covers Baby Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Baby Nagar?

The current guideline value of Baby Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Baby Nagar?

Baby Nagar is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

What are the registration fees for property in Baby Nagar?

The registration fees are based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total registration fee would be Rs 1,08,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.