Guideline Value for BUCKS ROAD

Bucks Road guideline value

The current guideline value of Bucks Road, located in Mylapore village, is Rs 15,900 per sq.ft, effective from 1 July 2024. This street falls under the Mylapore Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Bucks Road has changed

The guideline value of Bucks Road has seen significant changes over the years. In 2002, the value was Rs 1,566 per sq.ft, which increased to Rs 1,740 per sq.ft in 2003, marking a rise of 11%. By 2007, the value jumped dramatically to Rs 1,750 per sq.ft, a mere 1% increase. However, from 2007 to 2012, the value surged to Rs 14,500 per sq.ft, reflecting a substantial increase of 729%. The value remained unchanged at Rs 14,500 per sq.ft from 2012 until 2023.

In 2023, the guideline value was revised to Rs 14,500 per sq.ft, and in the latest revision in 2024, it increased to Rs 15,900 per sq.ft, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 915%. The register has no figure for Bucks Road for the year 2017.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which means Bucks Road's 2024 guideline value is above this median.

• Brindavan Street: Rs 8,200 per sq.ft (2024)
• Byepass Road (Lighthouse To Foreshore Estate): Rs 6,000 per sq.ft (2024)
• Canal Bank Road (Abiramapuram): Rs 8,800 per sq.ft (2024)
• CANAL BANK ROAD(PMD Salai to RA Puram 3rd cross street): Rs 8,800 per sq.ft (2024)
• CANAL BANK ROAD(RA Puram): Rs 8,800 per sq.ft (2024)
• Canal Bank Road (Sringeri Mutt Road): Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bucks Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total fees to Rs 14,31,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bucks Road?

The Sub Registrar Office covering Bucks Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum sale price of properties in the area. When registering a property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. The authorities will charge duty based on the higher of the two amounts, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bucks Road?

The current guideline value of Bucks Road is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,566 per sq.ft in 2002 to Rs 15,900 per sq.ft in 2024, reflecting an overall increase of 915% over the years.

What is the registration office for Bucks Road?

The registration office for Bucks Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the stamp duty rates for properties in Bucks Road?

The stamp duty for properties in Bucks Road is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value or sale price.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, while Bucks Road's guideline value is above this median at Rs 15,900 per sq.ft.