Guideline Value for BHUTHATHALWAR STREET (WARD -5)

Bhuthathalwar Street (Ward -5) guideline value

The current guideline value of Bhuthathalwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Bhuthathalwar Street (Ward -5) has changed

The guideline value of Bhuthathalwar Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for Bhuthathalwar Street in the revisions of 2002, 2003, and 2007. Overall, comparing the values from 2012 to 2024, there has been a 10% increase, indicating a stable adjustment in the guideline value over the years.

Guideline values in Panangottur

In Panangottur, there are a total of 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Bhuthathalwar Street's 2024 figure above that median.

• Bhuthar Nagar (Per): Rs 440 per sq.ft (2024)
• Bhuvaneshwari Nagar (Per): Rs 660 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 660 per sq.ft (2024)
• Blue Chip Residency (Kr): Rs 990 per sq.ft (2024)
• Boothapandian Street (Ward -4): Rs 1,320 per sq.ft (2024)
• B R Nagar (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuthathalwar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuthathalwar Street (Ward -5)?

Bhuthathalwar Street (Ward -5) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is established by the government and reflects the market conditions for properties in the area.

When a property is sold, the buyer must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate taxes are calculated based on the higher amount, safeguarding the interests of both the buyer and the government.

Frequently asked questions

What is the current guideline value of Bhuthathalwar Street (Ward -5)?

The current guideline value of Bhuthathalwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Bhuthathalwar Street?

Bhuthathalwar Street is classified as Residential Special Type - V, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,18,800.

Which office handles registrations for Bhuthathalwar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Bhuthathalwar Street (Ward -5), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.