Guideline Value for DILLI BABU NAGAR

Dilli Babu Nagar guideline value

The current guideline value of Dilli Babu Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Dilli Babu Nagar has changed

The guideline value for Dilli Babu Nagar has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai consists of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the 2024 guideline value for Dilli Babu Nagar below the median.

• Dharmalingam Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Dharmalingam Nagar: Rs 1,320 per sq.ft (2024)
• Dhanm Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanm Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli Road: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli Extension 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Dilli Babu Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dilli Babu Nagar?

Dilli Babu Nagar falls under 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 determining the stamp duty and registration fees when buying or selling property in Pallikaranai. It acts as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and fair, reflecting the property's value as per government standards.

Frequently asked questions

What is the current guideline value of Dilli Babu Nagar?

The current guideline value of Dilli Babu Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then up to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Dilli Babu Nagar?

Dilli Babu Nagar is classified as Residential Class IV Type - II, indicating its designation for residential use.

What are the stamp duty rates for properties in Dilli Babu Nagar?

The stamp duty rate for properties in Dilli Babu Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Dilli Babu Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations for Dilli Babu Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.