Guideline Value for BHUVANESHWARI NAGAR EXTN

Bhuvaneshwari Nagar Extn guideline value

The current guideline value of Bhuvaneshwari Nagar Extn is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Bhuvaneshwari Nagar Extn has changed

The guideline value for Bhuvaneshwari Nagar Extn has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017. In 2023, the value increased significantly to Rs 1,800 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,980 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, it increased by 10%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase. This indicates a fluctuation in the guideline value over the years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making Bhuvaneshwari Nagar Extn's current value of Rs 1,980 per sq.ft above this median.

• Bhuvaneshwari Nagar: Rs 1,980 per sq.ft (2024)
• Bhavani Nagar: Rs 1,100 per sq.ft (2024)
• Bharathvaj Nagar: Rs 1,320 per sq.ft (2024)
• Bharath Nagar: Rs 990 per sq.ft (2024)
• Casa Grand: Rs 990 per sq.ft (2024)
• Bhaggyam Gopalakrishnan Nagar: Rs 2,960 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneshwari Nagar Extn?

The Sub Registrar Office that covers Bhuvaneshwari Nagar Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, the buyer must pay either the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar Extn?

The current guideline value of Bhuvaneshwari Nagar Extn is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Bhuvaneshwari Nagar Extn?

The land classification for Bhuvaneshwari Nagar Extn is Residential Special Type - I.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Bhuvaneshwari Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 19,80,000, leading to a stamp duty of Rs 1,38,600.