Guideline Value for BHUVANESHWARI NAGAR 6th Cross Street

BHUVANESHWARI NAGAR 6th Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 6th 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, and is classified as Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR 6th Cross Street has changed

The guideline value for BHUVANESHWARI NAGAR 6th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012, marking a substantial rise of 543%. However, the value then decreased to Rs 1,507 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 2,250 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 2,500 per sq.ft, an increase of 11% from 2023.

It is important to note that the register does not contain 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

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values in 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and BHUVANESHWARI NAGAR 6th Cross Street's 2024 figure is above this median.

• BHUVANESHWARI NAGAR 5th 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 4th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 9th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR & Annexe(Other Streets): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 6th 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, totaling Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 6th Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 6th 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 when registering property in Nerkundram. It determines the amount of stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is sold, the registration office will assess the guideline value to ensure that the appropriate taxes are collected. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 6th Cross Street?

The current guideline value of BHUVANESHWARI NAGAR 6th 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%.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram for 2024 is Rs 2,200 per sq.ft, with BHUVANESHWARI NAGAR 6th Cross Street's value being above this median.

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 office handles the registration for BHUVANESHWARI NAGAR 6th Cross Street?

The Virugambakkam Sub Registrar Office handles the registration for BHUVANESHWARI NAGAR 6th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.