Guideline Value for BHUVANESHWARI NAGAR 8th Cross Street

BHUVANESHWARI NAGAR 8th Cross Street guideline value

The current guideline value for BHUVANESHWARI NAGAR 8th 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 8th Cross Street has changed

Over the years, the guideline value for BHUVANESHWARI NAGAR 8th Cross Street has seen significant changes. The 2007 revision recorded a guideline value of 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%. The subsequent revision in 2023 raised the value to Rs 2,250 per sq.ft, followed by the latest revision in 2024, which set the current value at Rs 2,500 per sq.ft, reflecting an increase of 11%.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 614%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 in Nerkundram is Rs 2,200 per sq.ft, and the 2024 value for BHUVANESHWARI NAGAR 8th Cross Street is above this median.

• BHUVANESHWARI NAGAR 7th 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)
• BHUVANESHWARI NAGAR 6th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Dr.Abdul Kalam Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 8th 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, making the total fees together Rs 2,25,000. It is essential 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 further calculations.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 8th Cross Street?

The Sub Registrar Office covering BHUVANESHWARI NAGAR 8th 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 is a crucial factor in property transactions in Nerkundram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It serves as a reference point for both buyers and sellers during negotiations and ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value for BHUVANESHWARI NAGAR 8th Cross Street?

The current guideline value for BHUVANESHWARI NAGAR 8th 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 increased 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 8th Cross Street?

BHUVANESHWARI NAGAR 8th Cross Street is classified as 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 7th Cross Street, 9th Cross Street, and several others listed in the guideline value register.

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

The Sub Registrar Office for BHUVANESHWARI NAGAR 8th Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find more information about your SRO online.