Guideline Value for Shri Baba Nagar (Phase-1,2)

Shri Baba Nagar (Phase-1,2) guideline value

The current guideline value of Shri Baba Nagar (Phase-1,2) is Rs 1,500 per sq.ft, as per the 2023 revision. This area is located in Ayyencheri village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Shri Baba Nagar (Phase-1,2) has changed

Over the years, the guideline value for Shri Baba Nagar has seen several revisions. The earliest recorded value was Rs 370 per sq.ft in 2007, which significantly increased to Rs 1,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,005 per sq.ft. The most recent revision in 2023 brought the value back up to Rs 1,500 per sq.ft.

When looking at the changes between these revisions, from 2007 to 2012, there was a substantial increase of 305%. However, from 2012 to 2017, the guideline value decreased by 33%. The jump from 2017 to 2023 marked a 49% increase, resulting in an overall increase of 305% from 2007 to 2023.

Guideline values in Ayyencheri

Currently, there are no specific village figures provided for Ayyencheri. Shri Baba Nagar (Phase-1,2) is the only street discussed in this context. There are no other streets in Ayyencheri under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Shri Baba Nagar (Phase-1,2)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shri Baba Nagar (Phase-1,2)?

The Sub Registrar Office that covers Shri Baba Nagar (Phase-1,2) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is used as a benchmark for determining the minimum price at which a property can be registered. When a buyer or seller engages in a transaction, the guideline value helps establish the stamp duty and registration fees required for the process.

It is essential for both parties to be aware of the guideline value, as it affects the overall cost of the transaction. The fees are calculated based on this value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shri Baba Nagar (Phase-1,2)?

The current guideline value of Shri Baba Nagar (Phase-1,2) is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 370 per sq.ft in 2007, rising to Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 per sq.ft in 2017, and finally returning to Rs 1,500 per sq.ft in 2023.

What is the stamp duty for property in Shri Baba Nagar (Phase-1,2)?

The stamp duty for property in Shri Baba Nagar is 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000.

What is the registration fee for property transactions in this area?

The registration fee for property transactions in Shri Baba Nagar is 2% of the guideline value or the sale price. For a property valued at Rs 15,00,000, the registration fee would be Rs 30,000.

Which office handles property registrations for Shri Baba Nagar (Phase-1,2)?

The Gooduvancheri Sub Registrar Office is responsible for handling property registrations for Shri Baba Nagar (Phase-1,2). It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.