Guideline Value for BHUVANESHWARI NAGAR (PER)

Bhuvaneshwari Nagar (Per) guideline value

The current guideline value of Bhuvaneshwari Nagar (Per), located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Bhuvaneshwari Nagar (Per) has changed

Over the years, the guideline value for Bhuvaneshwari Nagar (Per) has seen several revisions. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which represents a 10% increase from the 2023 revision of Rs 600 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 402 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also listed the value at Rs 600 per sq.ft, which was a decrease of 33% from the 2017 figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

When looking at the overall changes from 2012 to 2024, the guideline value has increased by 10%. This reflects the fluctuations in property values over the years, highlighting the variations in the guideline values set by the authorities.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,100 per sq.ft, positioning Bhuvaneshwari Nagar (Per) below this median.

• Bhuthathalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Bhuthar Nagar (Per): Rs 440 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 660 per sq.ft (2024)
• Blue Chip Residency (Kr): Rs 990 per sq.ft (2024)
• Boothapandian Street (Ward -4): Rs 1,321 per sq.ft (2024)
• B R Nagar (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari Nagar (Per)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bhuvaneshwari Nagar (Per)?

Bhuvaneshwari Nagar (Per) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives its due revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded fairly, reflecting the actual value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar (Per)?

The current guideline value of Bhuvaneshwari Nagar (Per) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, which is a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a significant increase and decrease over the years.

What is the land classification of Bhuvaneshwari Nagar (Per)?

Bhuvaneshwari Nagar (Per) is classified as Residential Class I Type - III, indicating its suitability for residential development.

Which Sub Registrar Office covers Bhuvaneshwari Nagar (Per)?

The Chengleput Joint II Sub Registrar Office covers Bhuvaneshwari Nagar (Per), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property in Bhuvaneshwari Nagar (Per)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, for a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 46,200.