Guideline Value for B.V.R.Nagar 3rd Street

B.V.R.Nagar 3rd Street guideline value

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

How the guideline value of B.V.R.Nagar 3rd Street has changed

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

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

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, positioning B.V.R.Nagar 3rd Street's 2024 figure below that median.

• B.V.R.Nagar 2nd 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 1st 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: 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers B.V.R.Nagar 3rd Street?

B.V.R.Nagar 3rd Street falls under the jurisdiction of 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 in property transactions, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property in Valasaravakkam, it is essential to consider the guideline value, as it can affect the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is charged on the higher of the two values.

Frequently asked questions

What is the current guideline value of B.V.R.Nagar 3rd Street?

The current guideline value of B.V.R.Nagar 3rd 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 remained at Rs 3,000 per sq.ft from 2012 to 2023 and increased to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

What are the guideline values for other streets in Valasaravakkam?

Other streets in Valasaravakkam have guideline values ranging from Rs 3,300 per sq.ft to Rs 3,300 per sq.ft, with the median for the area at Rs 3,850 per sq.ft.

What is the stamp duty for property in B.V.R.Nagar 3rd Street?

The stamp duty for property in B.V.R.Nagar 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Which office handles property registrations in this area?

The Virugambakkam Sub Registrar Office handles property registrations for B.V.R.Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.