Guideline Value for Bhuvaneshwari Nagar Extension

Bhuvaneshwari Nagar Extension guideline value

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

How the guideline value of Bhuvaneshwari Nagar Extension has changed

The guideline value for Bhuvaneshwari Nagar Extension has seen several revisions over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 278 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting an increase of +224%. In 2012, it was revised to Rs 3,500 per sq.ft, which was a decrease of -33% from the previous figure. The 2017 revision set the value at Rs 2,345 per sq.ft, which was a +49% increase from 2012. The most recent revisions show that in 2023, the guideline value reached Rs 3,500 per sq.ft, and it has now increased to Rs 3,900 per sq.ft in 2024, an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +1498%. The register has no figures for the years between 2012 and 2017 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Bhuvaneshwari Nagar Extension.

• Bhuvaneshwari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• 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 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 Extension

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 the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneshwari Nagar Extension?

The Sub Registrar Office that covers Bhuvaneshwari Nagar Extension 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 details.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as the minimum value for which properties can be registered, ensuring that the transaction is documented at a fair value according to the local regulations.

When a buyer or seller engages in a property transaction, the guideline value helps determine the applicable stamp duty and registration fees. This ensures that the government collects the appropriate taxes based on the property's value as set by the guideline.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar Extension?

The current guideline value of Bhuvaneshwari Nagar Extension 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, increasing from Rs 244 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of +1498%.

What are the other streets with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Bhuvaneshwari Nagar 5th Street, Bhuvaneshwari Nagar 4th Street, and Bhavani Street.

What are the stamp duty and registration fees for properties?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office located for Bhuvaneshwari Nagar Extension?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.