Guideline Value for S.S. Baba Nagar Annex

S.S. Baba Nagar Annex guideline value

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

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

The guideline value for S.S. Baba Nagar Annex has seen several revisions over the years. In 2003, the guideline value was Rs 31 per sq.ft, which increased to Rs 200 per sq.ft in 2007. This was a significant rise of 545%. The value then increased by 150% to Rs 500 per sq.ft in 2012. However, in 2017, the value decreased by 33% to Rs 335 per sq.ft. The 2023 revision set the value at Rs 500 per sq.ft, followed by a 10% increase to Rs 550 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1674%. The register does not have a figure for the year 2002 for this street.

Guideline values in Vadakarai

In Vadakarai, there are 15 streets under the Redhills SRO that carry 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 is below this median.

• S.S. Baba Nagar: Rs 660 per sq.ft (2024)
• S.S. Baba Nagar Annex - I: Rs 550 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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total 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, bringing the total fees to Rs 49,500. It is important to note that the 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 details.

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

The Sub Registrar Office that covers S.S. Baba Nagar Annex is 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 reference point during property registration in Vadakarai. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps establish the minimum value for which the property can be registered. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly from Rs 31 per sq.ft to Rs 550 per sq.ft in 2024, reflecting a total increase of 1674% over this period.

What is the land classification for S.S. Baba Nagar Annex?

The land classification for S.S. Baba Nagar Annex is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in S.S. Baba Nagar Annex?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where can I find the Sub Registrar Office for S.S. Baba Nagar Annex?

The Redhills Sub Registrar Office covers S.S. Baba Nagar Annex, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.