Guideline Value for Bhuvaneshwari Nagar

Bhuvaneshwari Nagar guideline value

The current guideline value of Bhuvaneshwari Nagar, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Bhuvaneshwari Nagar has changed

The guideline value for Bhuvaneshwari Nagar has undergone several revisions over the years. In 2002, the value was Rs 356 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a change of +69%. By 2007, the value rose significantly to Rs 650 per sq.ft, a change of +8%. The value remained at Rs 650 per sq.ft until the next revision in 2012, which saw it jump to Rs 3,000 per sq.ft, a remarkable increase of +362%. This value remained unchanged until the 2023 revision, where it was again Rs 3,000 per sq.ft.

The most recent revision in 2024 saw the guideline value increase to Rs 3,300 per sq.ft, reflecting a change of +10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +827%. It is important to note that there is no figure available for the year 2017 for this street in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Bhuvaneshwari Nagar's 2024 figure below this median.

• Bhuvaneshwari Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bhuvaneswari Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bhuvaneswari Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bhavani Nagar: Rs 4,400 per sq.ft (2024)
• B.N.Ramamurthy Nagar: Rs 3,850 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneshwari Nagar?

The Sub Registrar Office that covers Bhuvaneshwari Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Valasaravakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue based on the property's assessed value.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar?

The current guideline value of Bhuvaneshwari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 356 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of +827% over the years.

What are the other streets with the same guideline value in Valasaravakkam?

Other streets in Valasaravakkam with the same guideline value of Rs 3,300 per sq.ft include Bhuvaneshwari Nagar 1st Street, Bhuvaneswari Nagar 2nd Street, and Bharathiyar Street.

How is stamp duty calculated for properties in Bhuvaneshwari Nagar?

Stamp duty for properties in Bhuvaneshwari Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.

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

The Sub Registrar Office for Bhuvaneshwari Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.