Guideline Value for BHUVANESHWARI NAGAR 10th Cross Street

BHUVANESHWARI NAGAR 10th Cross Street guideline value

The current guideline value of BHUVANESHWARI NAGAR 10th 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 Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR 10th Cross Street has changed

The guideline value for BHUVANESHWARI NAGAR 10th Cross Street has undergone several revisions over the years. The earliest recorded value was Rs 350 per sq.ft in 2007. This figure saw a significant increase 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 decline of 33%. The value then increased to Rs 2,250 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the 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 has no 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 that have a guideline value for 2024, 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, placing BHUVANESHWARI NAGAR 10th Cross Street above the median.

• BHUVANESHWARI NAGAR 11th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 12th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 13th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 1st Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR 10th 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 is charged at 7%, which totals Rs 1,75,000, while the registration fee is 2%, amounting to Rs 50,000. Together, the total cost for these fees is 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.

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

Which Sub Registrar Office covers BHUVANESHWARI NAGAR 10th Cross Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR 10th 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 information.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, understanding the guideline value can help buyers estimate the total costs involved in the transaction. It is advisable to check the latest guideline values to ensure accurate calculations of the fees associated with property registration.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR 10th Cross Street?

The current guideline value of BHUVANESHWARI NAGAR 10th 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, reflecting an overall increase of 614% over the years.

What is the land classification for BHUVANESHWARI NAGAR 10th Cross Street?

The land classification for BHUVANESHWARI NAGAR 10th Cross Street is Residential Class III Type - II.

What are the stamp duty rates applicable in this area?

The stamp duty rate is 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office should I contact for property transactions?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covers BHUVANESHWARI NAGAR 10th Cross Street.