Guideline Value for Buddhar Street

Buddhar Street guideline value

The current guideline value of Buddhar Street is Rs 1,700 per sq.ft, effective from July 1, 2024. This street is located in Tharamani village and falls under the Adayar SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Buddhar Street has changed

Over the years, the guideline value of Buddhar Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 750 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,005 per sq.ft in the 2017 revision. In the 2023 revision, the value rose significantly to Rs 1,500 per sq.ft, and the latest revision in 2024 set the value at Rs 1,700 per sq.ft. The register has no figure for the years 2002 and 2003 for this street.

In terms of percentage changes, the value increased by 100% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 is +13%. Overall, from 2007 to 2024, the guideline value has increased by 127%.

Guideline values in Tharamani

In Tharamani village, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft, with a median value of Rs 2,800 per sq.ft. Buddhar Street's current guideline value is below this median.

• Bus Stand Road: Rs 3,300 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Yamuna Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thapathi Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thamirabarani Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Saraswathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Buddhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Buddhar Street?

The Sub Registrar Office that covers Buddhar Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tharamani. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value serves as a benchmark for assessing the transaction value. This ensures that the government receives the appropriate revenue from property transactions, which is based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Buddhar Street?

The current guideline value of Buddhar Street is Rs 1,700 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 750 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, representing an overall increase of 127%.

What is the land classification for Buddhar Street?

Buddhar Street is classified as Residential Class V Type - III, indicating its designation for residential use.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Buddhar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.