Guideline Value for SR BABA NAGAR

Sr Baba Nagar guideline value

The current guideline value of Sr Baba Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Patravakkam village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Sr Baba Nagar has changed

Over the years, the guideline value for Sr Baba Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision marked a significant increase to Rs 268 per sq.ft, which was a 33% decrease from the previous 2012 figure. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 400 per sq.ft. Therefore, from 2012 to 2024, the overall change remains at 0%, indicating stability in the guideline value over this period.

Guideline values in Patravakkam

In Patravakkam, there are five streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 800 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value for Sr Baba Nagar is below this median.

• Sri Saibaba Nagar: Rs 500 per sq.ft (2024)
• Rd Enclave: Rs 800 per sq.ft (2024)
• Shree Mahindra Giri: Rs 800 per sq.ft (2024)
• Sree Maruti Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sr Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 information.

Which Sub Registrar Office covers Sr Baba Nagar?

The Sub Registrar Office covering Sr Baba Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Patravakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the official valuation set by the authorities. This helps maintain transparency and compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Sr Baba Nagar?

The current guideline value of Sr Baba Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification of Sr Baba Nagar?

Sr Baba Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Sr Baba Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Sr Baba Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.