Guideline Value for Buddhar Street Extension

Buddhar Street Extension guideline value

The current guideline value of Buddhar Street Extension is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Buddhar Street Extension has changed

The guideline value for Buddhar Street Extension has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, the value increased significantly in the subsequent revisions, reaching Rs 2,500 per sq.ft in 2023, and further rising to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figure for Buddhar Street Extension for the years 2002, 2003, and 2007.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Buddhar Street Extension's 2024 value above this median.

• Buddhar Street: Rs 2,750 per sq.ft (2024)
• Buddhar Cross Street: Rs 2,750 per sq.ft (2024)
• Burma Agathical Colony: Rs 850 per sq.ft (2024)
• Camp Road: Rs 3,300 per sq.ft (2024)
• Camp Road 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Camp Road 1st Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Buddhar Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Buddhar Street Extension?

The Sub Registrar Office that covers Buddhar Street Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Buddhar Street Extension?

The current guideline value of Buddhar Street Extension is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Buddhar Street Extension?

Buddhar Street Extension is classified as Residential Class I Type - III under the Selaiyur SRO.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.