Guideline Value for BHUVANESHWARI NAGAR Seeni Bai Street

BHUVANESHWARI NAGAR Seeni Bai Street guideline value

The current guideline value of BHUVANESHWARI NAGAR Seeni Bai Street is Rs 2,500 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 - II.

How the guideline value of BHUVANESHWARI NAGAR Seeni Bai Street has changed

The guideline value for BHUVANESHWARI NAGAR Seeni Bai Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,250 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,507 per sq.ft. Following this, the 2023 revision increased the value significantly to Rs 2,250 per sq.ft, and the most recent 2024 revision set the value at Rs 2,500 per sq.ft.

In terms of percentage changes, from 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Nerkundram

Nerkundram has a total of 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 in this area is Rs 2,200 per sq.ft, making the 2024 figure for BHUVANESHWARI NAGAR Seeni Bai Street above the median.

• 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 Lakshmanan Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Vinayagam Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Ganapathy Street: Rs 2,750 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 Seeni Bai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, leading to a total cost of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR Seeni Bai Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR Seeni Bai 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 plays a crucial role during property registration in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR Seeni Bai Street?

The current guideline value of BHUVANESHWARI NAGAR Seeni Bai Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,250 per sq.ft in 2012 to Rs 1,507 per sq.ft in 2017, then back to Rs 2,250 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of BHUVANESHWARI NAGAR Seeni Bai Street?

BHUVANESHWARI NAGAR Seeni Bai Street is classified as Residential Class III Type - II.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for BHUVANESHWARI NAGAR Seeni Bai Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.