Guideline Value for Bhuvaneshwari Nagar

Bhuvaneshwari Nagar guideline value

The current guideline value of Bhuvaneshwari Nagar, located in Thalakanancherry village under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Bhuvaneshwari Nagar has changed

The guideline value of Bhuvaneshwari Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 167%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

The 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 193%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Bhuvaneshwari Nagar's 2024 guideline value is below this median.

• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Burma Tamizhar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Burma Tamizhar Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Burma Tamizhar Colony 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Burma Tamizhar Colony First Street: Rs 2,200 per sq.ft (2024)
• Barma Tamizhar Colony: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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?

The Sub Registrar Office that covers Bhuvaneshwari Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees that buyers and sellers need to pay when registering a property. The guideline value is a reference point that helps ensure that the property is accurately valued during the registration process.

When a property is sold, the higher of the guideline value or the sale price will be considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value at the time of sale.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar?

The current guideline value of Bhuvaneshwari Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which represents a total increase of 193% over the years.

What is the classification of land in Bhuvaneshwari Nagar?

Bhuvaneshwari Nagar is classified as Residential Class II Type - III, which indicates the type of development and usage allowed in the area.

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

The Sub Registrar Office for Bhuvaneshwari Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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, if the guideline value is Rs 22,00,000, the stamp duty would be calculated at 7% of this amount.