Guideline Value for BHUVANESWARI MATHA STREET

Bhuvaneswari Matha Street guideline value

The current guideline value of Bhuvaneswari Matha Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bhuvaneswari Matha Street has changed

The guideline value for Bhuvaneswari Matha Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 2,500 per sq.ft, and further increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Bhuvaneswari Matha Street's 2024 figure below this median.

• Big Street(Periya Theru): Rs 3,520 per sq.ft (2024)
• Bhavani Nagar: Rs 4,400 per sq.ft (2024)
• B.M. Gopal Street: Rs 3,300 per sq.ft (2024)
• Bharthi Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar Cross Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Matha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Matha Street?

The Sub Registrar Office covering Bhuvaneswari Matha Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. 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 Matha Street?

The current guideline value of Bhuvaneswari Matha Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Bhuvaneswari Matha Street?

Bhuvaneswari Matha Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Bhuvaneswari Matha Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Bhuvaneswari Matha Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.