Guideline Value for BHUVANESWARI NAGAR

Bhuvaneswari Nagar guideline value

The current guideline value of Bhuvaneswari Nagar, located in Athur A Block village under the Chengleput Joint II SRO, is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Mixed Type - I land.

How the guideline value of Bhuvaneswari Nagar has changed

Over the years, the guideline value of Bhuvaneswari Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 300% increase. However, this value remained unchanged until the 2017 revision, where it was adjusted to Rs 402 per sq.ft, reflecting a decrease of 33%. The value then rose substantially to Rs 600 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, indicating no change from the previous year.

The guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Athur A Block

Athur A Block comprises 44 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 300 to Rs 1,525 per sq.ft. The median value for this area is Rs 600 per sq.ft, which aligns with the guideline value of Bhuvaneswari Nagar.

• Cynosure Extension Phase - I: Rs 900 per sq.ft (2024)
• Cynosure Extension Phase - II: Rs 900 per sq.ft (2024)
• Cynosure Extension Phase - III: Rs 900 per sq.ft (2024)
• Cynosure Extension Phase - IV: Rs 900 per sq.ft (2024)
• Cynosure Extension Phase - V: Rs 900 per sq.ft (2024)
• Doctor Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 Nagar?

The Sub Registrar Office that covers Bhuvaneswari Nagar 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 more information.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value is a crucial factor when registering property transactions in Athur A Block. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can affect the total expenditure involved in the property transaction.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar?

The current guideline value of Bhuvaneswari Nagar is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, before returning to Rs 600 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Bhuvaneswari Nagar?

Bhuvaneswari Nagar is classified as Mixed Type - I land, which indicates a variety of permissible land uses in the area.

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

The Sub Registrar Office for Bhuvaneswari Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 600 per sq.ft would incur a total of Rs 54,000 in fees.