Guideline Value for Bhuvaneshwari Nagar 5th Street

Bhuvaneshwari Nagar 5th Street guideline value

The current guideline value of Bhuvaneshwari Nagar 5th 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Bhuvaneshwari Nagar 5th Street has changed

The guideline value for Bhuvaneshwari Nagar 5th Street has seen several revisions over the years. The earliest recorded figure is from 2002, when the value was Rs 244 per sq.ft. This increased to Rs 278 per sq.ft in 2003, marking a change of +14%. By 2007, the value rose significantly to Rs 900 per sq.ft, a change of +224%. The value then continued to increase, reaching Rs 3,500 per sq.ft in 2012, which represented a decrease of -33% from the previous revision. The 2017 revision marked an increase to Rs 2,345 per sq.ft, reflecting a +49% change. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, before it reached the current figure of Rs 3,900 per sq.ft in 2024, representing an increase of +11%.

It is important to note that there are no figures recorded for the years not mentioned in this summary. The overall change from 2002 to 2024 is an increase of +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 guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Bhuvaneshwari Nagar 5th Street.

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

Stamp duty and registration fee for property in Bhuvaneshwari Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, 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 be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneshwari Nagar 5th Street?

The Sub Registrar Office that covers Bhuvaneshwari Nagar 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential 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 transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for legal documentation. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar 5th Street?

The current guideline value of Bhuvaneshwari Nagar 5th 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 from Rs 244 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1498% over the years.

What is the stamp duty for property in Bhuvaneshwari Nagar 5th Street?

The stamp duty for property in Bhuvaneshwari Nagar 5th Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Bhuvaneshwari Nagar 5th Street?

The Alandur Sub Registrar Office handles the registration for Bhuvaneshwari Nagar 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the guideline values of other streets in Adambakkam?

Other streets in Adambakkam have varying guideline values, with some streets like Bhuvaneshwari Nagar 4th Street and Bhavani Street also having a value of Rs 3,900 per sq.ft in 2024.