Guideline Value for Badrian Street

Badrian Street guideline value

The current guideline value of Badrian Street in Muthiyalpet village, under the Sowcarpet SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Badrian Street has changed

The guideline value for Badrian Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 2,451 per sq.ft. It increased to Rs 3,000 per sq.ft in 2007, followed by a significant rise to Rs 8,000 per sq.ft in 2012. However, the value decreased by 33% to Rs 5,360 per sq.ft in 2017. The most recent revisions show an increase to Rs 8,000 per sq.ft in 2023, and then a further rise of 10% to Rs 8,800 per sq.ft in 2024. Notably, the register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 259%. The changes between the revisions highlight a fluctuating trend, with the most significant increase occurring from 2007 to 2012, where the value jumped by 167%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Badrian Street's 2024 figure above this median.

• Badri Veerasamy Street: Rs 4,400 per sq.ft (2024)
• Baganathan Lane: Rs 3,800 per sq.ft (2024)
• Bajanai Koil Lane: Rs 6,600 per sq.ft (2024)
• Bajanai Koil Street: Rs 4,400 per sq.ft (2024)
• Baksar Street: Rs 8,800 per sq.ft (2024)
• Ayya Pillai Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Badrian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, the total charges would be Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Badrian Street?

The Sub Registrar Office that covers Badrian Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling a property, the guideline value is compared against the sale price. The higher of the two figures is used to determine the applicable duties and fees, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Badrian Street?

The current guideline value of Badrian Street is Rs 8,800 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 2,451 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 259% over this period.

What is the land classification for Badrian Street?

Badrian Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is currently set at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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

The Sowcarpet Sub Registrar Office covers Badrian Street and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.