Guideline Value for B.V.R.Nagar 1st Street

B.V.R.Nagar 1st Street guideline value

The current guideline value of B.V.R.Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of B.V.R.Nagar 1st Street has changed

The guideline value for B.V.R.Nagar 1st Street has seen changes over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft. The most recent revision in 2024 increased this to Rs 3,300 per sq.ft, marking a change of +10% from the 2012 figure.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only revisions with figures are from 2012 and 2024.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, making the current figure for B.V.R.Nagar 1st Street below this median.

• B.V.R.Nagar: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar - Angala Parameswari Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in B.V.R.Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers B.V.R.Nagar 1st Street?

The Sub Registrar Office that covers B.V.R.Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the legal value of the transaction. This ensures transparency and compliance with local regulations, making it an essential aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of B.V.R.Nagar 1st Street?

The current guideline value of B.V.R.Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for B.V.R.Nagar 1st Street?

The land classification for B.V.R.Nagar 1st Street is Residential Class II Type - II. This classification indicates the type of development and use permitted in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office located?

The Sub Registrar Office covering B.V.R.Nagar 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles all registration activities for the area.