Guideline Value for Butchammal Street

Butchammal Street guideline value

The current guideline value of Butchammal Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Butchammal Street has changed

Since the 2007 revision, the guideline value for Butchammal Street has seen significant changes. The 2007 revision set the value at Rs 700 per sq.ft, which increased by 186% to Rs 2,000 per sq.ft in the 2012 revision. However, the value decreased by 33% to Rs 1,340 per sq.ft in the 2017 revision. The most recent revision in 2024 has raised the guideline value to Rs 2,200 per sq.ft, marking a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for Butchammal Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Butchammal Street's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Cemetry Road: Rs 3,800 per sq.ft (2024)
• Bojaraja Nagar South Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar North Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 8th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 7th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Butchammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Butchammal Street?

The Sub Registrar Office that covers Butchammal Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements when executing property transactions.

When a property is bought or sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Butchammal Street?

The current guideline value of Butchammal Street is Rs 2,200 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 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over these years.

What is the land classification for Butchammal Street?

Butchammal Street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Butchammal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.