Guideline Value for BUDHAR COLONY MAIN ROAD

Budhar Colony Main Road guideline value

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

How the guideline value of Budhar Colony Main Road has changed

Over the years, the guideline value of Budhar Colony Main Road has seen several revisions. The earliest revision available is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, which marked a reduction of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a 49% rise. The latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

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, with a median value of Rs 1,930 per sq.ft. The guideline value for Budhar Colony Main Road is below this median.

• Budhar Colony 3rd Street: Rs 1,650 per sq.ft (2024)
• Budhar Colony 2nd Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee, charged at 2%, would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Budhar Colony Main Road?

The Sub Registrar Office that covers Budhar Colony Main Road 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 information.

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 determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must adhere to this guideline value during registration to avoid any legal complications. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Budhar Colony Main Road?

The current guideline value of Budhar Colony Main Road 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 back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Budhar Colony Main Road?

Budhar Colony Main Road is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Budhar Colony Main Road?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Budhar Colony Main Road?

The Chennai South Joint I Sub Registrar Office covers Budhar Colony Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.