Guideline Value for BUTHER STREET

Buther Street guideline value

The current guideline value of Buther Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Buther Street has changed

Over the years, the guideline value of Buther Street has seen several revisions. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, from 2012 to 2017, the value decreased by 33% to Rs 871 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 1,300 per sq.ft, and the 2024 revision also reflects the same figure, indicating no change from the previous year.

The overall increase from the 2007 revision to the 2024 revision is 767%. Notably, the register has no figures for Buther Street for the years 2002 and 2003.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft as of 2024. The median value is Rs 1,000 per sq.ft, placing Buther Street's 2024 figure above this median.

• Chandra Nagar: Rs 500 per sq.ft (2024)
• Bharathidhasan Street: Rs 1,300 per sq.ft (2024)
• Bharathiar Street: Rs 1,000 per sq.ft (2024)
• C.V.M.Annamalai Street: Rs 600 per sq.ft (2024)
• Dr.ABDULKALAM STREET: Rs 1,300 per sq.ft (2024)
• Dr.KARUNANITHI CROSS STREET: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Buther Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Therefore, the total cost for stamp duty and registration would be Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Buther Street?

The Sub Registrar Office covering Buther Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vengathur. It serves as a benchmark for the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented accurately.

During registration, the property’s sale price is compared to the guideline value. The higher of the two amounts is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Buther Street?

The current guideline value of Buther Street is Rs 1,300 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 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and has remained at Rs 1,300 per sq.ft in the revisions for 2023 and 2024.

What is the land classification of Buther Street?

Buther Street is classified as Commercial Class I Type - III, indicating its commercial usage potential.

Where can I find the Sub Registrar Office for Buther Street?

The Sub Registrar Office for Buther Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Buther Street?

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 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.