Guideline Value for BHUVANESHWARI NAGAR 3rd Cross Street

BHUVANESHWARI NAGAR 3rd Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 3rd 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, classified as Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR 3rd Cross Street has changed

The guideline value for BHUVANESHWARI NAGAR 3rd Cross Street has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which saw a significant increase to Rs 2,250 per sq.ft in 2012. However, this value decreased to Rs 1,507 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,250 per sq.ft, followed by the current rate of Rs 2,500 per sq.ft in 2024. The changes between these revisions include a 543% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024.

It is important to note that there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for BHUVANESHWARI NAGAR 3rd Cross Street is above this median.

• BHUVANESHWARI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 6th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 7th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 1st Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 3rd 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 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 3rd Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 3rd 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 plays a crucial role when buying or selling property in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 3rd Cross Street?

The current guideline value of BHUVANESHWARI NAGAR 3rd 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 from Rs 350 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty rate for properties in BHUVANESHWARI NAGAR 3rd Cross Street?

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

Which office handles registrations for BHUVANESHWARI NAGAR 3rd Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for BHUVANESHWARI NAGAR 3rd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Where can I find more information about guideline values in Nerkundram?

More information about guideline values in Nerkundram can be found in the guideline value register maintained by the Registration Department.