Guideline Value for CITYBABU NAGAR 2ND CROSS STREET

Citybabu Nagar 2nd Cross Street guideline value

The current guideline value of Citybabu Nagar 2nd 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 2nd Cross Street has changed

As per the revisions in the guideline value register, the figure for Citybabu Nagar 2nd Cross Street has seen changes over the years. The 2012 revision recorded a guideline value of Rs 1,800 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value increased to Rs 1,800 per sq.ft, and then further rose to Rs 1,980 per sq.ft in the 2024 revision, indicating a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

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. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Citybabu Nagar 2nd Cross Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Citybabu Nagar 2nd 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 would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these charges Rs 1,78,200. It is important to note that 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 2nd Cross Street?

The Sub Registrar Office that covers Citybabu Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at 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 a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Citybabu Nagar 2nd Cross Street?

The current guideline value of Citybabu Nagar 2nd 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,800 per sq.ft in 2023, and then increased to Rs 1,980 per sq.ft in 2024, marking a 10% increase from the previous year.

What is the land classification for Citybabu Nagar 2nd Cross Street?

The land classification for Citybabu Nagar 2nd Cross Street is Residential Class III Type - I.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 1,78,200.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Citybabu Nagar 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.