Guideline Value for CITYBABU NAGAR 1ST CROSS STREET

Citybabu Nagar 1st Cross Street guideline value

The current guideline value of Citybabu Nagar 1st Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Citybabu Nagar 1st Cross Street has changed

Looking back at the revisions, the guideline value for Citybabu Nagar 1st Cross Street was Rs 1,800 per sq.ft in the 2012 revision, which remained unchanged until the 2023 revision. In 2023, the value was revised to Rs 1,800 per sq.ft, and then increased to Rs 1,980 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Citybabu Nagar 1st Cross Street is above this median.

• Cittibabu Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Citybabu Nagar 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Cittibabu Nagar Kulakarai Street: Rs 2,420 per sq.ft (2024)
• Citybabu Nagar 3rd Cross Street: Rs 1,980 per sq.ft (2024)
• Cittibabu Nagar 4th Cross Street: Rs 2,420 per sq.ft (2024)
• Citybabu Nagar 4th Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Citybabu Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Citybabu Nagar 1st Cross Street?

The Sub Registrar Office that covers Citybabu Nagar 1st Cross Street is the Chennai South Joint I Sub Registrar Office. The address is Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the correct amounts are paid during the transfer of property ownership.

When you buy or sell property, the guideline value helps determine the minimum value at which the property can be registered. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Citybabu Nagar 1st Cross Street?

The current guideline value of Citybabu Nagar 1st Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 10% increase from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024. Overall, from 2012 to 2024, the increase is also 10%.

What are the land classification details for Citybabu Nagar 1st Cross Street?

Citybabu Nagar 1st Cross Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty for property transactions is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Citybabu Nagar 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.