Guideline Value for City Babu Street

City Babu Street guideline value

The current guideline value of City Babu Street in Perungalathur village is Rs 1,980 per sq.ft, effective from the 2024 revision. This street falls under the Padappai SRO and is classified as Residential Class III Type - I.

How the guideline value of City Babu Street has changed

City Babu Street has seen several revisions in its guideline value over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 620%. However, in 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The 2023 revision brought the value up to Rs 1,800 per sq.ft, and the latest revision in 2024 has set it at Rs 1,980 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for City Babu Street. Overall, from 2007 to 2024, the guideline value has increased by 692%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, indicating that City Babu Street's 2024 figure is below this median.

• Corner Street: Rs 1,980 per sq.ft (2024)
• Corner Street Extn: Rs 1,980 per sq.ft (2024)
• Cholan Theru: Rs 1,980 per sq.ft (2024)
• Chitra Avenue: Rs 2,970 per sq.ft (2024)
• David Nagar: Rs 3,960 per sq.ft (2024)
• Desamuthiyamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in City Babu 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 fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers City Babu Street?

The Sub Registrar Office that covers City Babu Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware that the stamp duty is calculated based on the higher amount between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of City Babu Street?

The current guideline value of City Babu 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 250 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 692% over the years.

What are the stamp duty and registration fees for properties on City Babu Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Perungalathur?

The Padappai Sub Registrar Office handles property registrations in Perungalathur, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions, ensuring accurate recording of sales in the registration process.