Guideline Value for BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street

BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street guideline value

The current guideline value of BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street has changed

Over the years, the guideline value for BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street has seen various revisions. The 2012 revision set the value at Rs 2,250 per sq.ft, which then decreased to Rs 1,507 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,250 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 2,500 per sq.ft, marking an 11% rise from the previous year.

The guideline value register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Nerkundram

Nerkundram 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, indicating that the current value for BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street is above this median.

• BHUVANESHWARI NAGAR & Annexe(Other Streets): Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR Dr.Abdul Kalam Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 9th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 8th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 7th Cross Street: Rs 2,500 per sq.ft (2024)
• BHUVANESHWARI NAGAR 6th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil 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, resulting in a total of 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 - Bhuvaneshwari Amman Koil Street?

The BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street falls under the jurisdiction of 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 during the registration of property in Nerkundram. It helps determine the stamp duty and registration fees that must be paid when a property transaction occurs. Buyers and sellers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When buying or selling property, the guideline value ensures transparency and fairness in the transaction process. It serves as a baseline for calculating the fees associated with property registration, ensuring that all parties are informed of the costs involved.

Frequently asked questions

What is the current guideline value for BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street?

The current guideline value for BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil 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 undergone several revisions, with the most recent increase from Rs 2,250 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, marking an 11% rise. The value was Rs 1,507 per sq.ft in 2017 and Rs 2,250 per sq.ft in 2012.

What is the land classification for this street?

BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street is classified as Residential Class III Type - II. This classification is important for understanding the types of properties and developments allowed in the area.

Where can I find the registration office for this area?

The registration office covering BHUVANESHWARI NAGAR - Bhuvaneshwari Amman Koil Street 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 based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at a rate of 7%.