Guideline Value for Buddi Begum 2nd lane

Buddi Begum 2nd lane guideline value

The current guideline value of Buddi Begum 2nd lane is Rs 6,600 per sq.ft, effective from 1 July 2024. 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 2nd lane has changed

The guideline value for Buddi Begum 2nd lane has seen several revisions over the years. In 2002, the value was Rs 589 per sq.ft, which increased to Rs 647 per sq.ft in 2003. Following this, the value rose significantly to Rs 945 per sq.ft in 2007, and then to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017, before climbing back to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft.

Notable changes between these revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a significant 535% increase from 2007 to 2012. The value decreased by 33% from 2012 to 2017. Overall, from 2002 to 2024, the guideline value has increased by 1021%.

Guideline values in Triplicane

In Triplicane village, there are 415 streets under the Triplicane SRO, with guideline values 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 value of Buddi Begum 2nd lane.

• Buddi Begum 1st 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 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be 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. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Buddi Begum 2nd lane?

The Sub Registrar Office that covers Buddi Begum 2nd 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 a crucial factor in property transactions within Triplicane. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value can impact the overall cost of property transactions.

When a property is bought or sold, the guideline value is compared with the sale price to determine the applicable fees. If the sale price is higher than the guideline value, the fees will be calculated based on the sale price instead. This ensures that the registration process is transparent and fair for all parties involved.

Frequently asked questions

What is the current guideline value of Buddi Begum 2nd lane?

The current guideline value of Buddi Begum 2nd 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 significantly from Rs 589 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1021% over this period.

What are the stamp duty and registration fees for property in Buddi Begum 2nd lane?

For a 1,000 sq.ft plot, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000 based on the current guideline value.

Which Sub Registrar Office covers Buddi Begum 2nd lane?

The Triplicane Sub Registrar Office covers Buddi Begum 2nd lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Buddi Begum 2nd lane?

Buddi Begum 2nd lane is classified as Residential Class I Type - I, indicating its suitability for residential development.