Guideline Value for BUELA NAGAR

Buela Nagar guideline value

The current guideline value of Buela Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Buela Nagar has changed

The guideline value for Buela Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. However, the latest revision in 2024 has increased the guideline value to Rs 1,320 per sq.ft, marking a significant rise of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a modest increase of 10%.

It is important to note that there are no registered figures for Buela Nagar in the years 2002, 2003, 2007, and 2023. This lack of data highlights the fluctuations and adjustments in property values over the years.

Guideline values in Pallikaranai

Pallikaranai village features 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Buela Nagar's 2024 figure below this median.

• Blue Moon Properties: Rs 3,690 per sq.ft (2024)
• Chakrapani Nagar: Rs 1,320 per sq.ft (2024)
• Chakravarthy Nagar: Rs 2,200 per sq.ft (2024)
• Chekizhar Street: Rs 1,650 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 8,580 per sq.ft (2024)
• Bharathiyar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Buela Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Buela Nagar?

The Sub Registrar Office that covers Buela Nagar 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 Pallikaranai

The guideline value plays a crucial role during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When buying or selling property in Pallikaranai, the guideline value ensures that the transaction is recorded accurately and transparently. This helps in maintaining a standard procedure for property valuation and taxation within the region.

Frequently asked questions

What is the current guideline value of Buela Nagar?

The current guideline value of Buela Nagar 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 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,320 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

Are there any years without a registered guideline value for Buela Nagar?

Yes, there are no registered figures for Buela Nagar in the years 2002, 2003, 2007, and 2023.

What is the land classification of Buela Nagar?

Buela Nagar is classified as Residential Class IV Type - II, indicating its suitability for residential development.

Where can I find more information about the Sub Registrar Office?

The Chennai South Joint I Sub Registrar Office covers Buela Nagar. For more information, you can visit the office located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, or use the find your SRO link.