Guideline Value for Buthar Street

Buthar Street guideline value

The current guideline value of Buthar Street in Hastinapuram village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Buthar Street has changed

The guideline value for Buthar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision brought it up to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,650 per sq.ft.

Notably, the changes between these revisions indicate a substantial increase overall. From 2007 to 2012, there was a remarkable increase of 275%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Buthar Street's 2024 figure is below this median.

• Chandrika Garden: Rs 1,650 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 3,300 per sq.ft (2024)
• Chilapathikaram Street: Rs 3,850 per sq.ft (2024)
• Chitlapakkam Main Road: Rs 4,400 per sq.ft (2024)
• Bashiyam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Buthar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. 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 more detailed calculations.

Which Sub Registrar Office covers Buthar Street?

Buthar Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Hastinapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Buthar Street?

The current guideline value of Buthar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the stamp duty rate for properties in Buthar Street?

The stamp duty rate for properties in Buthar Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How can I calculate the registration fee for a property?

You can calculate the registration fee using the stamp duty and registration fee calculator, which provides detailed calculations based on the guideline value.