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 Sattamangalam 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 for Bhuthathalwar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The changes between the revisions are significant; the jump from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 1,100 per sq.ft, placing Bhuthathalwar Street's 2024 figure above this 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 660 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, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Bhuthathalwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Sattamangalam. It serves as a benchmark for assessing the value of property transactions and is used by the registration authorities to calculate applicable fees.

When a property is registered, the guideline value will be considered along with the sale price. The higher of the two values will be used to compute the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

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 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Bhuthathalwar Street?

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

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bhuthathalwar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 92,400.