Guideline Value for BUDHAR COLONY 3RD STREET

Budhar Colony 3rd Street guideline value

The current guideline value of Budhar Colony 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Budhar Colony 3rd Street has changed

The guideline value for Budhar Colony 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. The value then saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, and subsequently rose to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no recorded figures for the years 2002, 2003, and 2007 for Budhar Colony 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, indicating that Budhar Colony 3rd Street's 2024 figure is below that median.

• Budhar Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Budhar Colony Main Road: Rs 1,650 per sq.ft (2024)
• Budhar Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Buddhar Colony: Rs 1,650 per sq.ft (2024)
• Chettiaragaram Road: Rs 2,480 per sq.ft (2024)
• Bharathi Salai: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Budhar Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee, charged at 2%, would be Rs 33,000. Together, the total charges would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Budhar Colony 3rd Street?

The Sub Registrar Office that covers Budhar Colony 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is not undervalued during transactions.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Budhar Colony 3rd Street?

The current guideline value of Budhar Colony 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the registration office for Budhar Colony 3rd Street?

The registration office for Budhar Colony 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Budhar Colony 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What are the other streets in Karambakkam with similar guideline values?

Other streets in Karambakkam include Budhar Colony 2nd Street, Budhar Colony Main Road, Budhar Colony 1st Street, and Buddhar Colony, all with a guideline value of Rs 1,650 per sq.ft for 2024.