Guideline Value for S.K.Babu Street

S.K.Babu Street guideline value

The current guideline value of S.K.Babu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of S.K.Babu Street has changed

The guideline value for S.K.Babu Street has seen significant changes over the years. In 2002, the guideline value was Rs 350 per sq.ft, which increased to Rs 383 per sq.ft in 2003. Following this, there was a notable rise to Rs 550 per sq.ft in 2007. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

In terms of percentage changes, the guideline value increased by 9% from 2002 to 2003, followed by a 44% increase from 2003 to 2007. The value then saw a massive increase of 445% from 2007 to 2012. However, it dropped by 33% from 2012 to 2017. The value rose again by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 843%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with a 2024 guideline value range from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning S.K.Babu Street's 2024 value below this median.

• Sollaiappan Street: Rs 3,300 per sq.ft (2024)
• South Mada Street: Rs 2,750 per sq.ft (2024)
• South Perumal Koil Lane: Rs 7,700 per sq.ft (2024)
• Shanthi Nagar: Rs 4,950 per sq.ft (2024)
• Sethu Street: Rs 3,850 per sq.ft (2024)
• Senghalvarayan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.K.Babu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers S.K.Babu Street?

The Sub Registrar Office that covers S.K.Babu Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Saligramam. It is the basis on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value as it can impact the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of S.K.Babu Street?

The current guideline value of S.K.Babu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 843% over this period.

What is the land classification for S.K.Babu Street?

S.K.Babu Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for S.K.Babu Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.