Guideline Value for B.V.R.Nagar 2nd Street

B.V.R.Nagar 2nd Street guideline value

The current guideline value of B.V.R.Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls 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 2nd Street has changed

The guideline value for B.V.R.Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that the guideline value of B.V.R.Nagar 2nd Street is below this median.

• B.V.R.Nagar 1st 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: 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 2nd Street

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

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

Which Sub Registrar Office covers B.V.R.Nagar 2nd Street?

The Sub Registrar Office that covers B.V.R.Nagar 2nd 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 details.

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 is used to determine the stamp duty and registration fees applicable to the sale or purchase of property in the area.

When a property is sold, the guideline value serves as a benchmark for calculating the taxes owed, ensuring that both the buyer and seller comply with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of B.V.R.Nagar 2nd Street?

The current guideline value of B.V.R.Nagar 2nd 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 has increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase overall. The value remained unchanged from 2012 to 2023.

What are the guideline values for other streets in Valasaravakkam?

Other streets in Valasaravakkam have guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for property in B.V.R.Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers B.V.R.Nagar 2nd Street?

The Virugambakkam Sub Registrar Office covers B.V.R.Nagar 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.