Guideline Value

Corporate

Guideline Value for Bhuvaneshwari Nagar/Muthukrishnan Street

₹3850/sq.ft.

The guideline value for Bhuvaneshwari Nagar/muthukrishnan Street 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 N/A
From 1-8-2007 To 31-3-2012 N/A
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/muthukrishnan Street

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Bhuvaneshwari Nagar/Muthukrishnan Street guideline value

The current guideline value for Bhuvaneshwari Nagar/Muthukrishnan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street 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/Muthukrishnan Street has changed

The guideline value for Bhuvaneshwari Nagar/Muthukrishnan Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which was then increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 raised the guideline value further to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Bhuvaneshwari Nagar/Muthukrishnan Street's 2024 figure below that median.

Stamp duty and registration fee for property in Bhuvaneshwari Nagar/Muthukrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneshwari Nagar/Muthukrishnan Street?

The Sub Registrar Office that covers Bhuvaneshwari Nagar/Muthukrishnan Street 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 property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring transparency in property dealings. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the sale process.

When registering a property, the guideline value serves as a baseline for calculating taxes and fees. This ensures that the government receives appropriate revenue based on the property's assessed value, which is essential for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value for Bhuvaneshwari Nagar/Muthukrishnan Street?

The current guideline value for Bhuvaneshwari Nagar/Muthukrishnan Street 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 increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Bhuvaneshwari Nagar/Muthukrishnan Street?

The Velacheri Sub Registrar Office handles registrations for Bhuvaneshwari Nagar/Muthukrishnan Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for this street?

Bhuvaneshwari Nagar/Muthukrishnan Street is classified as Residential Class II Type - III, indicating its use for residential purposes within the area.