Guideline Value for SRI BABUJI NAGAR

Sri Babuji Nagar guideline value

The current guideline value of Sri Babuji Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Babuji Nagar has changed

The guideline value for Sri Babuji Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 112 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged dramatically to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,900 per sq.ft.

From 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 represents an 11% increase. Notably, the overall increase from 2003 to 2024 is a substantial 3382%. The register does not have a figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sri Babuji Nagar's 2024 figure above this median.

• Spring Dale Road & Swastik Avenue: Rs 3,900 per sq.ft (2024)
• Somasudaram Street: Rs 2,800 per sq.ft (2024)
• Somasudaram Road: Rs 2,800 per sq.ft (2024)
• Sri Krishna Koil Road: Rs 2,200 per sq.ft (2024)
• Sri Narayana Nagar: Rs 2,800 per sq.ft (2024)
• Sindhuri Garden: Rs 3,300 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Babuji Nagar?

Sri Babuji Nagar falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Enjambakkam. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to determine the minimum price at which the property can be registered. This helps in maintaining transparency and standardization in property transactions in the region.

Frequently asked questions

What is the current guideline value of Sri Babuji Nagar?

The current guideline value of Sri Babuji Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 112 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024. Notable revisions include an increase of 600% from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the median guideline value in Enjambakkam?

The median guideline value for streets in Enjambakkam is Rs 2,200 per sq.ft, with Sri Babuji Nagar's value being above this median.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Sri Babuji Nagar?

Stamp duty for properties in Sri Babuji Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.