Guideline Value for Bhuvaneshwari Nagar Extn-II

Bhuvaneshwari Nagar Extn-II guideline value

The current guideline value for Bhuvaneshwari Nagar Extn-II is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Gooduvancheri SRO, classified as Commercial Special Type - I.

How the guideline value of Bhuvaneshwari Nagar Extn-II has changed

The guideline value for Bhuvaneshwari Nagar Extn-II has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 245 per sq.ft. This figure increased significantly to Rs 1,200 per sq.ft in 2012, marking a 390% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value stabilized at Rs 1,200 per sq.ft during the revisions in 2023 and 2024, showing no change between these two years.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Bhuvaneshwari Nagar Extn-II's 2024 figure aligns with this median.

• Bhuvaneshwari Nagar Extn: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,200 per sq.ft (2024)
• Bharath Avenue: Rs 1,200 per sq.ft (2024)
• Barkavi Avenue: Rs 1,200 per sq.ft (2024)
• Balaji Nagar Extn: Rs 1,200 per sq.ft (2024)
• Balaji Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari Nagar Extn-II

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, totaling Rs 84,000, and the registration fee at 2% amounts to Rs 24,000. Together, these fees total Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bhuvaneshwari Nagar Extn-II?

The Sub Registrar Office covering Bhuvaneshwari Nagar Extn-II is the Gooduvancheri Sub Registrar Office, 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 Madambakkam

The guideline value is a crucial factor during property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When registering a property, the guideline value serves as a benchmark for taxation purposes. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar Extn-II?

The current guideline value of Bhuvaneshwari Nagar Extn-II is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with the most recent revisions in 2023 and 2024 maintaining a rate of Rs 1,200 per sq.ft. The value was Rs 804 per sq.ft in 2017, showing a 49% increase to the current rate.

What land classification is Bhuvaneshwari Nagar Extn-II?

Bhuvaneshwari Nagar Extn-II is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Bhuvaneshwari Nagar Extn-II is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 12,00,000 would incur a stamp duty of Rs 84,000 at a rate of 7%.