Guideline Value

Corporate

Guideline Value for Butt Lane

₹4400/sq.ft.

The guideline value for Butt Lane in Parangimalai village (Chennai South Joint Ii SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Parangimalai

Village

Chennai South Joint II

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹656 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹524 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Butt Lane

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Butt Lane guideline value

The current guideline value of Butt Lane in Parangimalai village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Butt Lane has changed

The guideline value for Butt Lane has seen significant changes over the years. In the 2002 revision, the value was Rs 524 per sq.ft, which increased to Rs 656 per sq.ft in 2003. The value then rose dramatically to Rs 1,800 per sq.ft in 2007, followed by a further increase to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest 2024 revision has increased it to Rs 4,400 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 740%. The revisions have shown notable fluctuations, with the most significant increase occurring from 2007 to 2012 at 122%, and a decrease of 33% from 2012 to 2017. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Butt Lane's 2024 figure above that median.

Stamp duty and registration fee for property in Butt Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Butt Lane?

The Sub Registrar Office that covers Butt Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Parangimalai. It acts as a benchmark for determining the minimum value of property transactions and is used to calculate the stamp duty and registration fees during the registration process.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Butt Lane?

The current guideline value of Butt Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 524 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 740% over this period.

What is the stamp duty rate for property in Butt Lane?

The stamp duty rate for property in Butt Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Butt Lane located?

The Sub Registrar Office for Butt Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the other streets in Parangimalai with their guideline values?

Other streets in Parangimalai include Butt Road and Cementary Road, both at Rs 5,500 per sq.ft, Chakkrapani Colony at Rs 3,850 per sq.ft, and BI Police Quarters, Chinna Mudali Street, and Chittibabu Street, all at Rs 3,300 per sq.ft.