Guideline Value for BHUVANESWARI AMMAN NAGAR (WARD-21)

Bhuvaneswari Amman Nagar (Ward-21) guideline value

The current guideline value of Bhuvaneswari Amman Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Bhuvaneswari Amman Nagar (Ward-21) has changed

The guideline value for Bhuvaneswari Amman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and then rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Bhuvaneswari Amman Nagar's 2024 figure below this median.

• Bharathi Street (Ward-21): Rs 660 per sq.ft (2024)
• C.B.S.C Nagar (Val): Rs 880 per sq.ft (2024)
• Bharathiar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Bhagatsingh Street (Ward-21): Rs 660 per sq.ft (2024)
• Bhaarathidasan Street (Ward-20): Rs 880 per sq.ft (2024)
• Chamudeeswari Nagar (Ward-21): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Amman Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Amman Nagar (Ward-21)?

The Sub Registrar Office that covers Bhuvaneswari Amman Nagar (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Konathi. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value based on current market standards.

When a property is sold, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Amman Nagar?

The current guideline value of Bhuvaneswari Amman Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Bhuvaneswari Amman Nagar?

Bhuvaneswari Amman Nagar (Ward-21) is classified as Residential Class II Type - I. This classification is important for determining the use and development of the land.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Bhuvaneswari Amman Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Bhuvaneswari Amman Nagar?

The Sub Registrar Office for Bhuvaneswari Amman Nagar (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.