Guideline Value

Corporate

Guideline Value for Bhuvaneshwari Nagar Main Road

₹3850/sq.ft.

The guideline value for Bhuvaneshwari Nagar Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2200 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bhuvaneshwari Nagar Main Road

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Bhuvaneshwari Nagar Main Road guideline value

The current guideline value of Bhuvaneshwari Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Bhuvaneshwari Nagar Main Road has changed

The guideline value for Bhuvaneshwari Nagar Main Road has undergone several revisions over the years. In 2007, the value was Rs 2,200 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a 59% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% drop. The value saw a significant increase of 49% to Rs 3,500 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 3,850 per sq.ft in 2024.

It is important to note that the guideline register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 75%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Bhuvaneshwari Nagar Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Bhuvaneshwari Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total charges Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bhuvaneshwari Nagar Main Road?

The Sub Registrar Office that covers Bhuvaneshwari Nagar Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point. If the sale price exceeds the guideline value, the stamp duty will be charged on the sale price. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar Main Road?

The current guideline value of Bhuvaneshwari Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 75% over the years.

What is the stamp duty rate for properties in Bhuvaneshwari Nagar Main Road?

The stamp duty rate for properties in Bhuvaneshwari Nagar Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bhuvaneshwari Nagar Main Road?

The Velacheri Sub Registrar Office covers Bhuvaneshwari Nagar Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Bhuvaneshwari Nagar Main Road?

Bhuvaneshwari Nagar Main Road is classified as Residential Class II Type - III.