Guideline Value for BHUVANESHWARI NAGAR Lakshmanan Street

BHUVANESHWARI NAGAR Lakshmanan Street guideline value

The current guideline value of BHUVANESHWARI NAGAR Lakshmanan 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 Lakshmanan Street has changed

The guideline value for BHUVANESHWARI NAGAR Lakshmanan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,250 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,507 per sq.ft. The value remained at Rs 2,250 per sq.ft until the 2023 revision, which increased it to Rs 2,250 per sq.ft. The most recent 2024 revision has raised the guideline value to Rs 2,500 per sq.ft, reflecting an increase of 11% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

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 guideline value in this area is Rs 2,200 per sq.ft, placing BHUVANESHWARI NAGAR Lakshmanan Street's 2024 figure above that median.

• BHUVANESHWARI NAGAR Ganapathy Street: Rs 2,750 per sq.ft (2024)
• BHUVANESHWARI NAGAR Seeni Bai Street: Rs 2,500 per sq.ft (2024)
• Bhuvaneshwari Nagar - Sheela Mohan Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Vinayagam 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 Lakshmanan 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, 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 or the sale price.

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

Which Sub Registrar Office covers BHUVANESHWARI NAGAR Lakshmanan Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR Lakshmanan 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 transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property transfer process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. The registration office uses this value to calculate the applicable fees based on the current rates.

Frequently asked questions

What is the current guideline value of BHUVANESHWARI NAGAR Lakshmanan Street?

The current guideline value of BHUVANESHWARI NAGAR Lakshmanan 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 2,250 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, marking an increase of 11%. It was Rs 1,507 per sq.ft in 2017 and Rs 2,250 per sq.ft in 2012.

What is the land classification of BHUVANESHWARI NAGAR Lakshmanan Street?

BHUVANESHWARI NAGAR Lakshmanan Street is classified as Residential Class III Type - II.

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

The stamp duty for a property valued at Rs 25,00,000 would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.