Guideline Value

Corporate

Guideline Value for Bhuvaneshwari Nagar 2ndStreet Extn

₹3850/sq.ft.

The guideline value for Bhuvaneshwari Nagar 2ndstreet Extn in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2200 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bhuvaneshwari Nagar 2ndstreet Extn

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Bhuvaneshwari Nagar 2ndStreet Extn guideline value

The current guideline value of Bhuvaneshwari Nagar 2ndStreet Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village under the Velacheri SRO and is classified as Residential Class II Type - III.

How the guideline value of Bhuvaneshwari Nagar 2ndStreet Extn has changed

Over the years, the guideline value for Bhuvaneshwari Nagar 2ndStreet Extn has seen several revisions. The 2007 revision set the guideline value at Rs 2,200 per sq.ft. This figure rose significantly to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 75%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value across these streets is Rs 4,400 per sq.ft, indicating that Bhuvaneshwari Nagar 2ndStreet Extn's 2024 figure is below this median.

Stamp duty and registration fee for property in Bhuvaneshwari Nagar 2ndStreet Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers Bhuvaneshwari Nagar 2ndStreet Extn?

Bhuvaneshwari Nagar 2ndStreet Extn falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when buying or selling property in Velachery. It serves as a benchmark for determining the registration fees and stamp duty applicable during the property transaction process.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of these values to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar 2ndStreet Extn?

The current guideline value of Bhuvaneshwari Nagar 2ndStreet Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking a total increase of 75% over the years.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 3,46,500.

Which office handles property registration for Bhuvaneshwari Nagar 2ndStreet Extn?

The Velacheri Sub Registrar Office handles property registration for Bhuvaneshwari Nagar 2ndStreet Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about the guideline value?

More information about the guideline value can be found in the Registration Department's guideline value register (TNReginet).