Guideline Value for Budha Sahib Street

Budha Sahib Street guideline value

The current guideline value of Budha Sahib Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Budha Sahib Street has changed

The guideline value for Budha Sahib Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 1,028 per sq.ft. It increased to Rs 1,200 per sq.ft in 2007, followed by a significant jump to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017. The value then rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

Between the revisions, the changes are notable. From 2003 to 2007, the value increased by 17%. There was a substantial increase of 233% from 2007 to 2012. The value then dropped by 33% from 2012 to 2017. From 2017 to 2023, there was a significant rise of 49%, and from 2023 to 2024, the increase was 10%. Overall, from 2003 to 2024, the guideline value has increased by 328%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, making Budha Sahib Street's 2024 figure equal to this median.

• Bunder Ramanaicken Garden Broadway Part: Rs 4,400 per sq.ft (2024)
• Bunder Ramanaicken Model ‘A ’To ‘I ’: Rs 6,000 per sq.ft (2024)
• Bunder Street (Murugappan Street): Rs 8,800 per sq.ft (2024)
• Broadway: Rs 16,500 per sq.ft (2024)
• Bridge Rasa Road: Rs 6,000 per sq.ft (2024)
• Braiyra Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Budha Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Budha Sahib Street?

The Sub Registrar Office covering Budha Sahib Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps establish the minimum price at which the property can be registered. This ensures that the government receives the appropriate taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Budha Sahib Street?

The current guideline value for Budha Sahib Street is Rs 4,400 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 1,028 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 328% over this period.

What is the registration office for Budha Sahib Street?

The registration office for Budha Sahib Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find more information on guideline values in Muthiyalpet?

For more information on guideline values in Muthiyalpet, you can refer to the Registration Department's guideline value register (TNReginet) or explore the details of other streets in the area.