Guideline Value for Buddar Street

Buddar Street guideline value

The current guideline value of Buddar Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Buddar Street has changed

The guideline value of Buddar Street has seen significant changes over the years. In the 2007 revision, the value was set at Rs 350 per sq.ft. This increased dramatically to Rs 2,700 per sq.ft in the 2012 revision, marking a rise of 671%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The 2023 revision saw the value rise again to Rs 2,700 per sq.ft, and in the latest 2024 revision, it increased further to Rs 2,970 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 749%. The register does not have figures for Buddar Street for the years 2002 and 2003.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median of Rs 2,310 per sq.ft. Buddar Street's 2024 figure of Rs 2,970 per sq.ft is above this median.

• Casa Grande: Rs 2,640 per sq.ft (2024)
• Blue Saghar: Rs 1,650 per sq.ft (2024)
• Chendur Avenue: Rs 4,180 per sq.ft (2024)
• Bharathiyar Street: Rs 1,980 per sq.ft (2024)
• Chennai Metro Politan Co Operative Society Ltd: Rs 1,980 per sq.ft (2024)
• Cheran Theru: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Buddar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees together to Rs 2,67,300. 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 detailed calculations.

Which Sub Registrar Office covers Buddar Street?

The Sub Registrar Office that covers Buddar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perungalathur. It helps determine the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Buddar Street?

The current guideline value of Buddar Street is Rs 2,970 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 350 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting a total increase of 749% over the years.

What is the land classification of Buddar Street?

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

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties on Buddar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 29,70,000 would incur a stamp duty of Rs 2,07,900.