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Guideline Value

Corporate

Guideline Value for BHUVANESHWARI NAGAR & Annexe(Other Streets)

₹2500/sq.ft.

The guideline value for Bhuvaneshwari Nagar & Annexe(other Streets) in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - II
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bhuvaneshwari Nagar & Annexe(other Streets)

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BHUVANESHWARI NAGAR & Annexe(Other Streets) guideline value

The current guideline value for BHUVANESHWARI NAGAR & Annexe(Other Streets) is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR & Annexe(Other Streets) has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,250 per sq.ft, which was then reduced to Rs 1,507 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 2,250 per sq.ft in the 2023 revision, and further rose to Rs 2,500 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, the increase was substantial at 49%. Overall, comparing the 2012 and 2024 revisions, 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 for 2024 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 BHUVANESHWARI NAGAR & Annexe(Other Streets) above this median.

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR & Annexe(Other Streets)

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 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers BHUVANESHWARI NAGAR & Annexe(Other Streets)?

The Sub Registrar Office that covers BHUVANESHWARI NAGAR & Annexe(Other Streets) 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 in property transactions in Nerkundram. It is used as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the overall costs associated with property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for BHUVANESHWARI NAGAR & Annexe(Other Streets)?

The current guideline value for BHUVANESHWARI NAGAR & Annexe(Other Streets) 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, showing a significant change over the years.

What is the land classification for this area?

BHUVANESHWARI NAGAR & Annexe(Other Streets) is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

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

The Sub Registrar Office for BHUVANESHWARI NAGAR & Annexe(Other Streets) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000.