Guideline Value for SRI BABUJI NAGAR

Sri Babuji Nagar guideline value

The current guideline value for Sri Babuji Nagar, located in Nayakkankuppam village under the Walajabad SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will be in place starting 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sri Babuji Nagar has changed

Over the years, the guideline value for Sri Babuji Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft, which remained constant until the latest revision in 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The current guideline value of Rs 200 per sq.ft from the 2024 revision is equal to the median value of Rs 200 per sq.ft for the 23 streets in Nayakkankuppam under the Walajabad SRO.

Guideline values in Nayakkankuppam

Nayakkankuppam village has a range of guideline values for its streets, with the 2024 figures ranging from Rs 150 to Rs 403 per sq.ft. The median value is Rs 200 per sq.ft, which aligns with the guideline value for Sri Babuji Nagar. Below are the guideline values for other streets in Nayakkankuppam:

• Sree Sastha Avenue: Rs 150 per sq.ft (2024)
• Smart City: Rs 150 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 403 per sq.ft (2024)
• Sikaram Avenue: Rs 200 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 250 per sq.ft (2024)
• Selva Vignesh Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Babuji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty, charged at 7%, would amount to Rs 14,000, and the registration fee, charged at 2%, would be Rs 4,000. Together, the total cost for these fees would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Babuji Nagar?

The Sub Registrar Office that covers Sri Babuji Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Nayakkankuppam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, which are mandatory for the registration of the property. This ensures that the transaction is officially documented and recognized by the authorities.

Additionally, the guideline value helps in assessing the fair value of properties in the area. Buyers and sellers can use this information to understand the pricing structure and ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for Sri Babuji Nagar?

The current guideline value for Sri Babuji Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Babuji Nagar has seen several revisions, with the most recent being Rs 200 per sq.ft in 2024, unchanged from the 2023 revision. The value increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the guideline values for other streets in Nayakkankuppam?

Other streets in Nayakkankuppam have varying guideline values, ranging from Rs 150 to Rs 403 per sq.ft. Notable streets include Sree Sastha Avenue and Smart City at Rs 150 per sq.ft, and Sri Mahalakshmi Nagar at Rs 403 per sq.ft.

What fees are associated with property transactions in Sri Babuji Nagar?

For a property in Sri Babuji Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 18,000 based on the current guideline value.

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

The Sub Registrar Office covering Sri Babuji Nagar is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles the registration of property transactions in the area.