Guideline Value for Bhuddar Street (M.G.R.Nagar)

Bhuddar Street (M.G.R.Nagar) guideline value

The current guideline value of Bhuddar Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Bhuddar Street (M.G.R.Nagar) has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure saw a decrease of 33% to Rs 2,010 per sq.ft in the 2017 revision. The value then increased significantly by 49% to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 shows a further increase of 10%, bringing the current guideline value to Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The changes in the guideline value reflect the adjustments made over the years, responding to various factors affecting the area.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Bhuddar Street's 2024 figure below this median.

• Bhuvaneshwari Colony: Rs 5,500 per sq.ft (2024)
• Bharathiyar Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Bharathi Street (W.M): Rs 5,500 per sq.ft (2024)
• Bharathi Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuddar Street (M.G.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuddar Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Bhuddar Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kodambakkam. 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 buyer or seller engages in a transaction, the guideline value serves as a benchmark for the transaction price. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price, ensuring that the government collects the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhuddar Street (M.G.R.Nagar)?

The current guideline value of Bhuddar Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Bhuddar Street (M.G.R.Nagar)?

Bhuddar Street (M.G.R.Nagar) is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Bhuddar Street (M.G.R.Nagar)?

The Ashok Nagar Sub Registrar Office handles registrations for Bhuddar Street (M.G.R.Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.