Guideline Value for Butchi Street (Butchi Babu Naidu Street)

Butchi Street (Butchi Babu Naidu Street) guideline value

The current guideline value of Butchi Street (Butchi Babu Naidu Street) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Butchi Street (Butchi Babu Naidu Street) has changed

In the 2012 revision, the guideline value was Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in the 2017 revision. This represents a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 6,600 per sq.ft, marking a rise of 64%.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10%. It's important to note that the register does not provide figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the guideline value of Butchi Street.

• Burrah Sahib Street: Rs 7,700 per sq.ft (2024)
• Burrah Sahib Lane: Rs 6,600 per sq.ft (2024)
• Byramjung Bahadur 1st Street: Rs 7,700 per sq.ft (2024)
• Byramjung Bahadur 2nd Street: Rs 7,700 per sq.ft (2024)
• Byramjung Bahadur Street: Rs 7,700 per sq.ft (2024)
• Buddi Begum Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Butchi Street (Butchi Babu Naidu Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total fees together Rs 5,94,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Butchi Street (Butchi Babu Naidu Street)?

The Sub Registrar Office that covers Butchi Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role when purchasing or selling property in Triplicane. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the buyer must pay the stamp duty and registration fee based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Butchi Street?

The current guideline value of Butchi Street (Butchi Babu Naidu Street) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease from Rs 6,000 in 2012 to Rs 4,020 in 2017, followed by an increase to Rs 6,600 in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification for Butchi Street?

Butchi Street falls under the land classification of Residential Class I Type - I.

Where can I find the Sub Registrar Office for Butchi Street?

The Sub Registrar Office for Butchi Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Butchi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 66,00,000, the stamp duty at 7% would amount to Rs 4,62,000.