Guideline Value for Bhuvaneshwari Nagar

Bhuvaneshwari Nagar guideline value

The current guideline value of Bhuvaneshwari Nagar, located in Ponmar village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft as per the 2023 revision. This area is classified as Residential Special Type - II.

How the guideline value of Bhuvaneshwari Nagar has changed

Over the years, the guideline value of Bhuvaneshwari Nagar has seen significant changes. In the 2007 revision, the guideline value was Rs 100 per sq.ft. This figure increased dramatically in the 2012 revision to Rs 1,000 per sq.ft, marking a substantial increase of 900%. However, in the 2017 revision, the guideline value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The most recent 2023 revision restored the guideline value to Rs 1,000 per sq.ft, which represents an increase of 49% from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 900%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values provided for other streets in Ponmar under the Gooduvancheri SRO. The guideline value for Bhuvaneshwari Nagar stands at Rs 1,000 per sq.ft, and this is the only figure available for the area.

Stamp duty and registration fee for property in Bhuvaneshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential 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?

The Bhuvaneshwari Nagar area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your specific Sub Registrar Office, visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Ponmar. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the total cost involved in the property transaction. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar?

The current guideline value of Bhuvaneshwari Nagar is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and finally returning to Rs 1,000 per sq.ft in 2023.

What is the land classification for Bhuvaneshwari Nagar?

Bhuvaneshwari Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees amount to Rs 90,000.