Guideline Value for BhuvanaSri Nagar

BhuvanaSri Nagar guideline value

The current guideline value of BhuvanaSri Nagar, located in Vallam village under the Chengleput Joint I SRO, is Rs 1,000 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of BhuvanaSri Nagar has changed

Over the years, the guideline value of BhuvanaSri Nagar has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 1,000 per sq.ft. The 2017 revision had a lower value of Rs 670 per sq.ft, marking a decrease of 33% from the 2012 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 1,000 per sq.ft.

Guideline values in Vallam

In Vallam village, there are 30 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is equal to the guideline value for BhuvanaSri Nagar.

• Babu Garden: Rs 1,000 per sq.ft (2024)
• Ananda kamalam nagar: Rs 1,000 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Madha Koil Street: Rs 750 per sq.ft (2024)
• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Muthamizh Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in BhuvanaSri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. 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 BhuvanaSri Nagar?

The BhuvanaSri Nagar area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vallam. It is the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are recorded at a fair value, as determined by the government, which helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of BhuvanaSri Nagar?

The current guideline value of BhuvanaSri Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft from 2012 to 2024, with a previous value of Rs 670 per sq.ft in 2017. There were no figures for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for property in BhuvanaSri Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 90,000.

Which Sub Registrar Office covers BhuvanaSri Nagar?

The Chengleput Joint I Sub Registrar Office covers BhuvanaSri Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for BhuvanaSri Nagar?

The land classification for BhuvanaSri Nagar is Residential Special Type - I, indicating its designated use for residential purposes.