Guideline Value for BHUVANESHWARI NAGAR 1st Cross Street

BHUVANESHWARI NAGAR 1st Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 1st Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR 1st Cross Street has changed

The guideline value for BHUVANESHWARI NAGAR 1st Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 350 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, it dropped to Rs 1,507 per sq.ft in 2017, before rising to Rs 2,250 per sq.ft again in 2023. The latest revision in 2024 has set the value at Rs 2,500 per sq.ft, marking an increase of 11% from the previous year.

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

Guideline values in Nerkundram

Nerkundram village 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 for these streets is Rs 2,200 per sq.ft, placing the 2024 value of BHUVANESHWARI NAGAR 1st Cross Street above this median.

• BHUVANESHWARI NAGAR 13th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 12th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 11th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 10th 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 1st 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 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, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 1st Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 1st 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 details.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 1st Cross Street?

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

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 350 per sq.ft to Rs 2,500 per sq.ft in 2024, representing a total increase of 614% over this period.

What was the guideline value in 2017?

The guideline value for BHUVANESHWARI NAGAR 1st Cross Street in 2017 was Rs 1,507 per sq.ft.

Which Sub Registrar Office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for BHUVANESHWARI NAGAR 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Nerkundram?

The median guideline value for streets in Nerkundram is Rs 2,200 per sq.ft, with BHUVANESHWARI NAGAR 1st Cross Street's 2024 value being above this median at Rs 2,500 per sq.ft.