Guideline Value for BUCHIBABU NAGAR

Buchibabu Nagar guideline value

The current guideline value of Buchibabu Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Athipattu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Buchibabu Nagar has changed

The guideline value for Buchibabu Nagar has seen several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Buchibabu Nagar. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Athipattu

Athipattu village has 108 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the guideline value of Buchibabu Nagar.

• Chamundeeshwari Rail Nagar: Rs 330 per sq.ft (2024)
• Bharati Street: Rs 330 per sq.ft (2024)
• Chelliamman Nagar: Rs 330 per sq.ft (2024)
• Balamurugan Nagar: Rs 330 per sq.ft (2024)
• Balaji Nagar: Rs 330 per sq.ft (2024)
• Dr. Ambedkar Nagar: Rs 462 per sq.ft (2024)

Stamp duty and registration fee for property in Buchibabu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty, charged at 7%, would amount to Rs 23,100, while the registration fee at 2% would be Rs 6,600. Together, these fees would total Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Buchibabu Nagar?

The Sub Registrar Office that covers Buchibabu Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Athipattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is processed according to the established legal framework, safeguarding the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Buchibabu Nagar?

The current guideline value of Buchibabu Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Buchibabu Nagar?

Buchibabu Nagar is classified as Residential Class I Type - I. This classification indicates the type of development permitted in the area.

Where can I find the Sub Registrar Office for Buchibabu Nagar?

The Sub Registrar Office for Buchibabu Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Buchibabu Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,30,000, the stamp duty would be calculated at 7% of this amount.