Guideline Value for Budhu street

Budhu street guideline value

The current guideline value of Budhu street in Muthialpet village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Budhu street has changed

The guideline value for Budhu street has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 150% rise. However, the value then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The guideline value saw a substantial increase to Rs 5,000 per sq.ft in 2023, followed by a further rise to Rs 5,500 per sq.ft in 2024, representing a 10% increase.

It is important to note that there are no figures available for Budhu street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO, with the 2024 guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current value of Budhu street.

• Bookers lane+: Rs 4,900 per sq.ft (2024)
• Chellamuthu lane: Rs 4,900 per sq.ft (2024)
• Chellamuthu street: Rs 4,900 per sq.ft (2024)
• Coral Merchant street: Rs 7,100 per sq.ft (2024)
• Bearer street: Rs 4,900 per sq.ft (2024)
• Bank Staff 2nd lane*: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Budhu street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Budhu street?

Budhu street is covered by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Budhu street?

The current guideline value of Budhu street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Budhu street?

Budhu street is classified as Residential Class II Type - I.

Where can I find more information about the Chennai North Joint I SRO?

More information about the Chennai North Joint I SRO can be found at the office located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is stamp duty calculated for properties in Budhu street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated at 7% of that amount.