Guideline Value for BHUVANESHWARI NAGAR 5th Cross Street

BHUVANESHWARI NAGAR 5th Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 5th 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 jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR 5th Cross Street has changed

The guideline value for BHUVANESHWARI NAGAR 5th Cross Street has seen significant changes over the years. 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, from 2012 to 2017, the value decreased to Rs 1,507 per sq.ft, a drop of 33%. By 2023, the value had risen again to Rs 2,250 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,500 per sq.ft, reflecting 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 contain figures for this street, indicating that the register has no figure for these years.

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. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning BHUVANESHWARI NAGAR 5th Cross Street above this median value.

• BHUVANESHWARI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 6th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 7th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 8th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 9th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 5th 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.

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

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 5th Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 5th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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 serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, providing transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 5th Cross Street?

The current guideline value of BHUVANESHWARI NAGAR 5th 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 these years.

What is the land classification for BHUVANESHWARI NAGAR 5th Cross Street?

The land classification for BHUVANESHWARI NAGAR 5th Cross Street is Residential Class III Type - II.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with the same guideline value of Rs 2,500 per sq.ft include BHUVANESHWARI NAGAR 4th, 6th, 3rd, 7th, 8th, and 9th Cross Streets.

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

The Sub Registrar Office for BHUVANESHWARI NAGAR 5th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.