Guideline Value for Sri Baba Nagar

Sri Baba Nagar guideline value

The current guideline value for Sri Baba Nagar, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Baba Nagar has changed

The guideline value for Sri Baba Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a 180% rise. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, reflecting a 33% drop. The 2023 revision brought the value up to Rs 700 per sq.ft, which was a 49% increase from the previous figure. Finally, the 2024 revision has set the guideline value at Rs 770 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 208%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, indicating that the guideline value for Sri Baba Nagar is below this median.

• Sri Balaji Nagar: Rs 990 per sq.ft (2024)
• Sri Ananthanathan Nagar: Rs 990 per sq.ft (2024)
• South Mada Street: Rs 940 per sq.ft (2024)
• Sri Ganesha Nagar: Rs 1,325 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Sivapriya Avenue: Rs 990 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Mannivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value can affect the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can influence the total expenses incurred during the purchase.

Frequently asked questions

What is the current guideline value of Sri Baba Nagar?

The current guideline value of Sri Baba Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 208% over this period.

What is the land classification for Sri Baba Nagar?

Sri Baba Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,70,000, the total fees would amount to Rs 69,300.

Which office handles registrations for properties in Sri Baba Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for properties in Sri Baba Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.