Guideline Value for BHUVANESHWARI NAGAR Ganapathy Street

BHUVANESHWARI NAGAR Ganapathy Street guideline value

The current guideline value of BHUVANESHWARI NAGAR Ganapathy Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of BHUVANESHWARI NAGAR Ganapathy Street has changed

The guideline value for BHUVANESHWARI NAGAR Ganapathy Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing BHUVANESHWARI NAGAR Ganapathy Street above this median.

• BHUVANESHWARI NAGAR Lakshmanan Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Seeni Bai Street: Rs 2,500 per sq.ft (2024)
• Bhuvaneshwari Nagar - Sheela Mohan Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Vinayagam Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Dr.Abdul Kalam Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR Ganapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on the fees applicable to your property transaction.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR Ganapathy Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR Ganapathy 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 Nerkundram

The guideline value is a crucial factor in property transactions in Nerkundram, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value serves as a benchmark for calculating stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. The registration office uses this value to ensure that the property is not undervalued during the sale process.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR Ganapathy Street?

The current guideline value of BHUVANESHWARI NAGAR Ganapathy Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, with BHUVANESHWARI NAGAR Ganapathy Street's value being above this median.

What are the stamp duty rates for property transactions?

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

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.