Guideline Value for BUVANESWARI NAGAR

Buvaneswari Nagar guideline value

The current guideline value of Buvaneswari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Buvaneswari Nagar has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same in the 2012 and 2017 revisions, but in 2017, it decreased to Rs 2,010 per sq.ft. The value saw a significant increase of 49% to Rs 3,000 per sq.ft in the 2023 revision. The current 2024 revision marks another increase of 10%, bringing the guideline value to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value is Rs 2,900 per sq.ft, making Buvaneswari Nagar's 2024 figure above that median.

• C.B.O.A Colony: Rs 3,300 per sq.ft (2024)
• Blossom: Rs 2,900 per sq.ft (2024)
• Deivalakshmi Nagar: Rs 2,950 per sq.ft (2024)
• Basil Avenue Extension: Rs 3,300 per sq.ft (2024)
• Basil Avenue: Rs 3,300 per sq.ft (2024)
• Balm Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Buvaneswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Buvaneswari Nagar?

The Sub Registrar Office that covers Buvaneswari Nagar is 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 Chitthalapakkam

The guideline value is a critical factor in property transactions in Chitthalapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The registration process requires that the property is registered at the guideline value or the sale price, whichever is higher.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a baseline for negotiations and ensures that the transaction adheres to the legal requirements set by the registration authorities.

Frequently asked questions

What is the current guideline value of Buvaneswari Nagar?

The current guideline value of Buvaneswari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Buvaneswari Nagar?

Buvaneswari Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

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 stamp duty calculated in Buvaneswari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.