Guideline Value for Bhuvaneshwari Nagar Extn

Bhuvaneshwari Nagar Extn guideline value

The current guideline value of Bhuvaneshwari Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Bhuvaneshwari Nagar Extn has changed

Looking at the revisions, the guideline value for Bhuvaneshwari Nagar Extn has seen several changes over the years. In 2007, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this figure dropped to Rs 804 per sq.ft in 2017, before rising again to Rs 1,200 per sq.ft in both 2023 and 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2012 to 2017, it decreased by 33%. The remarkable jump from 2007 to 2012 was 390%, and overall, from 2007 to 2024, the increase is also 390%. The current value aligns with the median guideline value for the 110 streets in Madambakkam under the Gooduvancheri SRO.

Guideline values in Madambakkam

In Madambakkam, the guideline values for the 2024 revision range from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Bhuvaneshwari Nagar Extn's 2024 figure matches this median value.

• Bhuvaneshwari Nagar Extn-II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneshwari Nagar Extn?

The Bhuvaneshwari Nagar Extn is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery - 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 plays a crucial role when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must ensure that they are aware of the current guideline value to accurately calculate their expenses related to property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar Extn?

The current guideline value of Bhuvaneshwari Nagar Extn 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 several revisions: it was Rs 245 per sq.ft in 2007, Rs 1,200 in 2012, Rs 804 in 2017, and Rs 1,200 in both 2023 and 2024. The most significant increase was from 2007 to 2012, which was 390%.

What is the land classification for Bhuvaneshwari Nagar Extn?

The land classification for Bhuvaneshwari Nagar Extn is Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery - 603202, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 12,00,000, the stamp duty would be 7% of that amount.