Guideline Value for Bhuvaneshwari Nagar

Bhuvaneshwari Nagar guideline value

The current guideline value of Bhuvaneshwari Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Bhuvaneshwari Nagar has changed

The guideline value for Bhuvaneshwari Nagar has undergone several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which saw a significant increase to Rs 1,800 per sq.ft in 2012. However, it decreased to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,980 per sq.ft.

From 2007 to 2012, there was an increase of 1100%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 1220%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of Bhuvaneshwari Nagar above this median.

• Bhuvaneshwari Nagar Extn: Rs 1,980 per sq.ft (2024)
• Bhavani Nagar: Rs 1,100 per sq.ft (2024)
• Bharathvaj Nagar: Rs 1,320 per sq.ft (2024)
• Bharath Nagar: Rs 990 per sq.ft (2024)
• Casa Grand: Rs 990 per sq.ft (2024)
• Bhaggyam Gopalakrishnan Nagar: Rs 2,960 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, resulting in a total of Rs 1,78,200. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transfers.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value as determined by the government. Buyers and sellers must be aware of the current guideline values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar?

The current guideline value of Bhuvaneshwari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 150 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 1220% from 2007 to 2024.

What is the land classification for Bhuvaneshwari Nagar?

Bhuvaneshwari Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Bhuvaneshwari Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Bhuvaneshwari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,38,600.