Guideline Value for Buela Street

Buela Street guideline value

The current guideline value of Buela Street in Grandlyon village, under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Buela Street has changed

The guideline value for Buela Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a 100% rise. However, between 2012 and 2017, the value decreased to Rs 402 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 600 per sq.ft in 2023, and further increased to Rs 660 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for Buela Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the current guideline value of Buela Street.

• Chavadi Medu: Rs 440 per sq.ft (2024)
• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Bharathi Nagar Extetion - 1: Rs 880 per sq.ft (2024)
• Bharathi Nagar: Rs 660 per sq.ft (2024)
• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathiar Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Buela Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. 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 further assistance.

Which Sub Registrar Office covers Buela Street?

The Sub Registrar Office that covers Buela Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can find your SRO.

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

The guideline value is a crucial reference point when buying or selling property in Grandlyon. It is used by the registration office to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

When a buyer or seller approaches the registration office, the guideline value helps in assessing the official value of the property, which is essential for calculating the necessary fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Buela Street?

The current guideline value of Buela Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting a total increase of 120% over the years.

Which Sub Registrar Office covers Buela Street?

Buela Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for properties on Buela Street?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

What is the land classification of Buela Street?

Buela Street falls under the Residential Class II Type - I land classification.