Guideline Value for Bhuvanalakshmi Nagar

Bhuvanalakshmi Nagar guideline value

The current guideline value of Bhuvanalakshmi Nagar is Rs 500 per sq.ft, as per the 2023 revision. This area falls under Arungal village and is classified as Residential Special Type - I, with the Gooduvancheri SRO overseeing its registration.

How the guideline value of Bhuvanalakshmi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft, marking a decline of 33%. However, the 2023 revision brought the value back up to Rs 500 per sq.ft, reflecting an increase of 49% from the 2017 figure. Overall, from 2012 to 2023, the guideline value has remained the same.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street. Thus, the only revisions with available values are from 2012, 2017, and 2023.

Guideline values in Arungal

Bhuvanalakshmi Nagar is one of the streets in Arungal, which is governed by the Gooduvancheri SRO. Unfortunately, there are no other streets in Arungal with provided guideline values.

Stamp duty and registration fee for property in Bhuvanalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value is Rs 5,00,000. The stamp duty at 7% amounts to Rs 35,000, and the registration fee at 2% is Rs 10,000, bringing the total charges to Rs 45,000. It is essential to note that stamp duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvanalakshmi Nagar?

The Gooduvancheri Sub Registrar Office covers Bhuvanalakshmi Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arungal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recorded and taxed appropriately.

When a property is sold, the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. Proper understanding of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Bhuvanalakshmi Nagar?

The current guideline value of Bhuvanalakshmi Nagar is Rs 500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has undergone several changes, from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, and then back to Rs 500 per sq.ft in 2023. Overall, from 2012 to 2023, the value has remained the same.

What are the stamp duty and registration fees for properties in Bhuvanalakshmi Nagar?

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000 and the registration fee is Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, in the Chengalpattu registration zone.

Are there other streets in Arungal with guideline values?

Currently, there are no other streets in Arungal with provided guideline values. Bhuvanalakshmi Nagar is the only street mentioned in the context of guideline values.