Guideline Value for Bukthavatchalam Street

Bukthavatchalam Street guideline value

The current guideline value of Bukthavatchalam Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village under the Tambaram Joint 1 SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Bukthavatchalam Street has changed

Over the years, the guideline value of Bukthavatchalam Street has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 167%. However, by 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 raised the value to Rs 800 per sq.ft, and the latest revision in 2024 has increased it further to Rs 880 per sq.ft, a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, indicating an overall increase of 193%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft, with a median value of Rs 1,650 per sq.ft. Bukthavatchalam Street's 2024 figure is below this median.

• Burma colony: Rs 1,650 per sq.ft (2024)
• Burma Colony 2-nd St: Rs 1,100 per sq.ft (2024)
• Burma Colony 3rd St: Rs 1,100 per sq.ft (2024)
• Bound Street: Rs 2,200 per sq.ft (2024)
• Bhagavath Singh Street: Rs 1,650 per sq.ft (2024)
• Dhamodharan Street/Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bukthavatchalam Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bukthavatchalam Street?

The Sub Registrar Office that covers Bukthavatchalam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the base value on which stamp duty and registration fees are calculated. When buying or selling a property, the guideline value helps establish the legal framework for the transaction and ensures compliance with local regulations.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and recognized by the authorities.

Frequently asked questions

What is the current guideline value of Bukthavatchalam Street?

The current guideline value of Bukthavatchalam Street is Rs 880 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 880 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the land classification for Bukthavatchalam Street?

Bukthavatchalam Street is classified under Residential Class II Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 79,200.

Which office handles the registration for Bukthavatchalam Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Bukthavatchalam Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.