Guideline Value for SRI BABA NAGAR

Sri Baba Nagar guideline value

The current guideline value of Sri Baba Nagar, located in Sengundram - 1 village, is Rs 3,285 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Mixed Type - I.

How the guideline value of Sri Baba Nagar has changed

According to the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for Sri Baba Nagar. The most recent revisions show that the guideline value was Rs 2,986 per sq.ft in 2023, which increased to Rs 3,285 per sq.ft in 2024, marking a change of +10%.

The 2024 revision reflects a significant increase from the previous year's value. The guideline value for Sri Baba Nagar is now above the median value of Rs 880 per sq.ft for the 126 streets in Sengundram - 1 under the Chengleput Joint II SRO.

Guideline values in Sengundram - 1

In Sengundram - 1, the guideline values range from Rs 660 to Rs 3,285 per sq.ft in the 2024 revision, with a median value of Rs 880 per sq.ft. Sri Baba Nagar's guideline value is notably higher than this median. The following are the guideline values for other streets in Sengundram - 1:

• Srialamelu Mangapuram Colony (Chen): Rs 1,100 per sq.ft (2024)
• Sre Nagar Part - I (Chen): Rs 1,100 per sq.ft (2024)
• Sree Nagar Part -III: Rs 1,100 per sq.ft (2024)
• Sree Nagar Part -II: Rs 1,100 per sq.ft (2024)
• Sree Gomathees Varar Nagar: Rs 770 per sq.ft (2024)
• Sree Gokulapuram Extn -3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,285 per sq.ft, the total guideline value would be Rs 32,85,000. The stamp duty at 7% would amount to Rs 2,29,950, and the registration fee at 2% would be Rs 65,700, bringing the total to Rs 2,95,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Baba Nagar?

The Sub Registrar Office that covers Sri 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 more details.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role during the registration process of property transactions in Sengundram - 1. It is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, the guideline value is referenced to ensure compliance with local regulations. This value helps in maintaining transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of Sri Baba Nagar?

The current guideline value of Sri Baba Nagar is Rs 3,285 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 2,986 per sq.ft in 2023 to Rs 3,285 per sq.ft in 2024, which is a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sri Baba Nagar?

Sri Baba Nagar is classified as Mixed Type - I. This classification indicates the type of land use permitted in the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty for a property transaction is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Sri Baba Nagar?

The Chengleput Joint II Sub Registrar Office covers Sri Baba Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details online.