Guideline Value for BHUVANESWARI NAGAR

Bhuvaneswari Nagar guideline value

The current guideline value of Bhuvaneswari Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Bhuvaneswari Nagar has changed

The guideline value for Bhuvaneswari Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and finally to Rs 1,900 per sq.ft in the 2024 revision, marking an increase of 6% from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 6% increase. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Bhuvaneswari Nagar is below this median.

• Bogar Avenue: Rs 2,730 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Casagrand Zenith Phase-I: Rs 3,200 per sq.ft (2024)
• Bharathiar Nagar: Rs 3,300 per sq.ft (2024)
• Bethel Nagar: Rs 1,650 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Nagar?

Bhuvaneswari Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is a critical factor in the registration process when buying or selling property in Vengaivasal. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a buyer approaches the registration office, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar?

The current guideline value of Bhuvaneswari Nagar is Rs 1,900 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 1,900 per sq.ft in 2024.

What is the land classification for Bhuvaneswari Nagar?

The land classification for Bhuvaneswari Nagar is Residential Class II Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Bhuvaneswari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 at the rate of 7%.