Guideline Value for BHUVANESHWARI NAGAR 12th Cross Street

BHUVANESHWARI NAGAR 12th Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 12th Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR 12th Cross Street has changed

Over the years, the guideline value of BHUVANESHWARI NAGAR 12th Cross Street has seen significant changes. In 2007, the guideline value was Rs 350 per sq.ft, which increased dramatically to Rs 2,250 per sq.ft in 2012, marking a rise of 543%. However, between 2012 and 2017, the value decreased to Rs 1,507 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 2,250 per sq.ft in 2023, a rise of 49% from the previous revision. The most recent revision in 2024 has set the value at Rs 2,500 per sq.ft, which is an increase of 11% from 2023.

The guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 614%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with 2024 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, making the 2024 figure for BHUVANESHWARI NAGAR 12th Cross Street above this median.

• BHUVANESHWARI NAGAR 11th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 13th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 10th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 1st Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 12th Cross Street

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

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

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 12th Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 12th Cross 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 in the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations and fair revenue collection for the state.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 12th Cross Street?

The current guideline value of BHUVANESHWARI NAGAR 12th Cross 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 significantly from Rs 350 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 614% over the years.

What is the classification of land in BHUVANESHWARI NAGAR 12th Cross Street?

BHUVANESHWARI NAGAR 12th Cross Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covers BHUVANESHWARI NAGAR 12th Cross Street.