Guideline Value for Bhuvaneshwari Nagar

Bhuvaneshwari Nagar guideline value

The current guideline value of Bhuvaneshwari Nagar is Rs 224 per sq.ft, effective from 1 July 2024. This area is located in Mosivakkam village and falls under the Chengleput Joint I SRO. The land classification for this location is Residential Class I Type - II.

How the guideline value of Bhuvaneshwari Nagar has changed

The guideline value for Bhuvaneshwari Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 150 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 224 per sq.ft. The latest revision in 2024 continues this value at Rs 224 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mosivakkam

In addition to Bhuvaneshwari Nagar, other streets in Mosivakkam are also listed with their respective guideline values. Bhuvaneshwari Nagar's current guideline value of Rs 224 per sq.ft places it within the context of these other streets.

• ஆ Anand Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 224 per sq.ft, the total guideline value amounts to Rs 2,24,000. The stamp duty at 7% would be Rs 15,680, and the registration fee at 2% would be Rs 4,480, totaling Rs 20,160. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bhuvaneshwari Nagar?

Bhuvaneshwari Nagar is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Mosivakkam. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is referenced to calculate the applicable fees. It is essential to note that the duty is charged based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar?

The current guideline value of Bhuvaneshwari Nagar is Rs 224 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 224 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 150 per sq.ft in 2017.

What are the stamp duty and registration fees for property in Bhuvaneshwari Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,24,000. The stamp duty is Rs 15,680, and the registration fee is Rs 4,480, totaling Rs 20,160.

Which office handles registrations for Bhuvaneshwari Nagar?

The Chengleput Joint I Sub Registrar Office handles registrations for Bhuvaneshwari Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of the legal fees involved in the registration process.