Guideline Value for Buddhar Street

Buddhar Street guideline value

The current guideline value of Buddhar Street in Rajakilpakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Buddhar Street has changed

The guideline value for Buddhar Street has seen several revisions over the years. In 2012, the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions show a significant rise of 49% from 2017 to 2023, and a decrease of 33% from 2012 to 2017. Notably, the register has no figures for Buddhar Street for the years 2002, 2003, and 2007.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. Buddhar Street's 2024 guideline value of Rs 1,100 per sq.ft is below this median.

• Brindavan Nagar Extension Main Road: Rs 2,400 per sq.ft (2024)
• Brindavan Nagar Ext.: Rs 2,400 per sq.ft (2024)
• Brindavan Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Brindavan Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Brindavan Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Brindavan Nagar 1st Cross Street: Rs 2,400 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Buddhar Street?

Buddhar Street is covered by 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 Rajakilpakkam

The guideline value is a crucial factor when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees during the transaction process. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. This system is designed to protect both buyers and sellers by ensuring that all transactions are conducted in accordance with established values.

Frequently asked questions

What is the current guideline value of Buddhar Street?

The current guideline value of Buddhar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification of Buddhar Street?

Buddhar Street is classified as Residential Class III Type - I. This classification determines the type of developments allowed in the area.

What are the stamp duty and registration fees for properties in Buddhar Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Buddhar Street?

The Selaiyur Sub Registrar Office handles the registration for Buddhar Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.