Guideline Value for Boosa Street

Boosa Street guideline value

The current guideline value of Boosa Street in Muthiyalpet village is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet SRO and is classified as Residential Class II Type - I.

How the guideline value of Boosa Street has changed

The guideline value for Boosa Street has seen several revisions over the years. In 2003, the value was Rs 798 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a rise of 25%. The value then surged to Rs 3,500 per sq.ft in 2012, reflecting a significant increase of 250%. However, in 2017, it decreased to Rs 2,345 per sq.ft, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and currently, it stands at Rs 3,800 per sq.ft as of the 2024 revision, representing a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 376%. It is important to note that the register has no figure for Boosa Street for the year 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. Boosa Street's guideline value of Rs 3,800 per sq.ft is below this median.

• Braiyra Street: Rs 4,400 per sq.ft (2024)
• Bommu Chetty Street: Rs 4,400 per sq.ft (2024)
• Bridge Rasa Road: Rs 6,000 per sq.ft (2024)
• Broadway: Rs 16,500 per sq.ft (2024)
• Budha Sahib Street: Rs 4,400 per sq.ft (2024)
• Bunder Ramanaicken Garden Broadway Part: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Boosa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Boosa Street?

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

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as the benchmark for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When purchasing property, the guideline value helps determine the amount of tax payable, which is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Boosa Street?

The current guideline value of Boosa Street is Rs 3,800 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 798 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 376% over this period.

What are the stamp duty and registration fees for Boosa Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,42,000, which includes a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000.

Which office handles registrations for Boosa Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Boosa Street.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure compliance with local regulations.