Guideline Value for BHUVANESHWARI NAGAR

Bhuvaneshwari Nagar guideline value

The current guideline value of Bhuvaneshwari Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Bhuvaneshwari Nagar has changed

Over the years, the guideline value of Bhuvaneshwari Nagar has seen significant changes. The earliest recorded figure in the register is from 2002, where the value was Rs 50 per sq.ft. This value increased to Rs 60 per sq.ft in 2003, marking a 20% rise. The following revisions saw a substantial increase, with the value reaching Rs 100 per sq.ft in 2007, reflecting a 67% increase from the previous year. The value then surged dramatically to Rs 1,000 per sq.ft in 2012, representing a 900% increase. However, it decreased to Rs 670 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value was revised to Rs 1,000 per sq.ft, followed by the latest revision in 2024, which set the figure at Rs 1,100 per sq.ft, an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 2100%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Bhuvaneshwari Nagar.

• Bharathi Nagar: Rs 1,100 per sq.ft (2024)
• Chinnaswamy Nagar/ Ext: Rs 1,100 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,100 per sq.ft (2024)
• Balamurugan Nagar: Rs 1,100 per sq.ft (2024)
• C K M Nagar: Rs 1,100 per sq.ft (2024)
• Bakthavatchulu Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. 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?

The Sub Registrar Office that covers Bhuvaneshwari Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is compared with the sale price. The stamp duty is charged on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions. It is essential for both buyers and sellers to understand this process to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar?

The current guideline value of Bhuvaneshwari Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 2100% over this period.

What are the stamp duty and registration fees for properties in Bhuvaneshwari Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Bhuvaneshwari Nagar?

The Thiruvottiyur Sub Registrar Office covers Bhuvaneshwari Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Bhuvaneshwari Nagar?

Bhuvaneshwari Nagar falls under the land classification of Residential Special Type - III.