Guideline Value for Bhuvaneshwari Nagar Thandai Periyar Street & Meenakshi Street

BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street guideline value

The current guideline value for BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village and falls under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street has changed

The guideline value for this street has seen several revisions over the years. In 2012, the value was Rs 2,250 per sq.ft, which decreased to Rs 1,507 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,250 per sq.ft in 2023, and then further rose to the current Rs 2,500 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a modest increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street above this median.

• Bhuvaneshwari Nagar - Sheela Mohan Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Vinayagam Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Seeni Bai Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Lakshmanan Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Ganapathy Street: Rs 2,750 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 Thandai Periyar Street & Meenakshi 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 cost for these 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi 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 plays a crucial role during the registration of property transactions in Nerkundram. It serves as a benchmark to determine the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that all property transactions are accurately assessed for taxation purposes.

Frequently asked questions

What is the current guideline value for BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street?

The current guideline value for BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi 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 2012 to Rs 1,507 per sq.ft in 2017, then to Rs 2,250 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, which means that the guideline value for BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street is 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 is Rs 1,75,000 and the registration fee is Rs 50,000, totaling Rs 2,25,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for BHUVANESHWARI NAGAR?

The Virugambakkam Sub Registrar Office handles property registrations for BHUVANESHWARI NAGAR Thandai Periyar Street & Meenakshi Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.