Guideline Value for Buddi Begum 1st Lane

Buddi Begum 1st Lane guideline value

The current guideline value of Buddi Begum 1st Lane is Rs 6,600 per sq.ft. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Buddi Begum 1st Lane has changed

Over the years, the guideline value of Buddi Begum 1st Lane has seen significant changes. In 2002, the guideline value was Rs 589 per sq.ft, which increased to Rs 647 per sq.ft in 2003. The value then rose to Rs 945 per sq.ft in 2007, followed by a substantial jump to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017. The value later increased to Rs 6,000 per sq.ft in 2023 and is now set at Rs 6,600 per sq.ft as of the 2024 revision.

The changes between these revisions show a varied trend. From 2002 to 2024, the overall increase is +1021%. The jump from 2017 to 2023 was +49%, while the decrease from 2012 to 2017 was -33%. The most notable increase occurred from 2007 to 2012, which saw a rise of +535%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Buddi Begum 1st Lane.

• Buddi Begum 2nd lane: Rs 6,600 per sq.ft (2024)
• Buddi Begum Street: Rs 6,600 per sq.ft (2024)
• Burrah Sahib Lane: Rs 6,600 per sq.ft (2024)
• Burrah Sahib Street: Rs 7,700 per sq.ft (2024)
• Butchi Street (Butchi Babu Naidu Street): Rs 6,600 per sq.ft (2024)
• Byramjung Bahadur 1st Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Buddi Begum 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 details.

Which Sub Registrar Office covers Buddi Begum 1st Lane?

The Sub Registrar Office that covers Buddi Begum 1st Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when purchasing or selling property.

When registering a property, the duty is charged based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Buddi Begum 1st Lane?

The current guideline value of Buddi Begum 1st Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 589 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +1021% over the years.

What is the land classification for Buddi Begum 1st Lane?

Buddi Begum 1st Lane is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in this lane?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Buddi Begum 1st Lane located?

The Sub Registrar Office for Buddi Begum 1st Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.