Guideline Value for Bhuvaneshwari Nagar 3rd Street

Bhuvaneshwari Nagar 3rd Street guideline value

The current guideline value of Bhuvaneshwari Nagar 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bhuvaneshwari Nagar 3rd Street has changed

The guideline value for Bhuvaneshwari Nagar 3rd Street has undergone several revisions since 2002. The figures are as follows: in 2002, the guideline value was Rs 244 per sq.ft, which increased to Rs 278 per sq.ft in 2003. The value then rose significantly to Rs 900 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value saw an increase again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Between 2012 and 2017, there was a decrease of 33%. The rise from 2007 to 2012 was a remarkable 289%, and from 2003 to 2007, it increased by 224%. The value rose by 14% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1498%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the current guideline value for Bhuvaneshwari Nagar 3rd Street.

• Bhuvaneshwari nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar Extension: Rs 3,900 per sq.ft (2024)
• Bhavani Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would amount to Rs 78,000, making the total charges Rs 3,51,000. It's important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneshwari Nagar 3rd Street?

The Sub Registrar Office that covers Bhuvaneshwari Nagar 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to consider this value to ensure they are paying a fair price according to government regulations.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar 3rd Street?

The current guideline value of Bhuvaneshwari Nagar 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, which is an increase of 11%.

What is the land classification of Bhuvaneshwari Nagar 3rd Street?

Bhuvaneshwari Nagar 3rd Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Bhuvaneshwari Nagar 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Bhuvaneshwari Nagar 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.