Guideline Value for S.S. Baba Nagar Annex - I

S.S. Baba Nagar Annex - I guideline value

The current guideline value of S.S. Baba Nagar Annex - I is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vadakarai village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of S.S. Baba Nagar Annex - I has changed

The guideline value for S.S. Baba Nagar Annex - I has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012, a rise of 67%. However, it then decreased to Rs 335 per sq.ft in 2017, marking a decline of 33%. The value saw a significant increase to Rs 500 per sq.ft in 2023, followed by another increase to Rs 550 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Vadakarai

In Vadakarai, there are 15 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for S.S. Baba Nagar Annex - I is below this median.

• S.S. Baba Nagar Annex: Rs 550 per sq.ft (2024)
• S.S. Baba Nagar: Rs 660 per sq.ft (2024)
• Sri Devi Karumari Amman Nagar: Rs 660 per sq.ft (2024)
• Thiruvalluvar Street: Rs 660 per sq.ft (2024)
• School Street: Rs 660 per sq.ft (2024)
• V.O.C. Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in S.S. Baba Nagar Annex - I

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.S. Baba Nagar Annex - I?

The S.S. Baba Nagar Annex - I is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakarai. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on this value.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of S.S. Baba Nagar Annex - I?

The current guideline value of S.S. Baba Nagar Annex - I is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the registration office for S.S. Baba Nagar Annex - I?

The registration office for S.S. Baba Nagar Annex - I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that must be paid. It serves as a benchmark for recording the sale price during the registration process.