Guideline Value for BHUVANESHWARI NAGAR 9th Cross Street

BHUVANESHWARI NAGAR 9th Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 9th 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 9th Cross Street has changed

Over the years, the guideline value of BHUVANESHWARI NAGAR 9th Cross Street has seen significant changes. The 2007 revision set the value at 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, which was a decline of 33%. The value then rose again to Rs 2,250 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, which is an 11% increase from the previous year.

It is important to note that the register does not have 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

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 as of 2024. The median value for these streets is Rs 2,200 per sq.ft, placing BHUVANESHWARI NAGAR 9th Cross Street above this median.

• BHUVANESHWARI NAGAR 8th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR & Annexe(Other Streets): Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 7th 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)
• BHUVANESHWARI NAGAR 6th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 9th 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 fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 9th Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 9th 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 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 registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 9th Cross Street?

The current guideline value of BHUVANESHWARI NAGAR 9th 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 from Rs 350 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting a total increase of 614% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 2,25,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers BHUVANESHWARI NAGAR 9th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for BHUVANESHWARI NAGAR 9th Cross Street?

The land classification for BHUVANESHWARI NAGAR 9th Cross Street is Residential Class III Type - II.