Guideline Value for Bhuvaneshwari nagar 4th Street

Bhuvaneshwari nagar 4th Street guideline value

The current guideline value of Bhuvaneshwari Nagar 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Bhuvaneshwari nagar 4th Street has changed

Over the years, the guideline value for Bhuvaneshwari Nagar 4th Street has seen significant changes. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 278 per sq.ft in 2003, marking a rise of 14%. The value then experienced a substantial increase to Rs 900 per sq.ft in 2007, reflecting a 224% change. By 2012, the value was Rs 3,500 per sq.ft, showing a remarkable 289% increase from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, which was a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, an increase of 11%.

There are no figures available for Bhuvaneshwari Nagar 4th Street for the years not listed in the register. Overall, from 2002 to 2024, the guideline value has increased by 1498%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Bhuvaneshwari Nagar 4th Street.

• Bhuvaneshwari Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar Extension: Rs 3,900 per sq.ft (2024)
• Bhavani Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneshwari nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 further calculations.

Which Sub Registrar Office covers Bhuvaneshwari nagar 4th Street?

The Sub Registrar Office that covers Bhuvaneshwari Nagar 4th Street 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 Adambakkam

The guideline value is a crucial factor when buying or selling property in Adambakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bhuvaneshwari Nagar 4th Street?

The current guideline value of Bhuvaneshwari Nagar 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 244 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1498% over the years.

What is the stamp duty for properties in Bhuvaneshwari Nagar 4th Street?

The stamp duty for properties in Bhuvaneshwari Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in this area?

The Alandur Sub Registrar Office handles property registrations for Bhuvaneshwari Nagar 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

Where can I find more information about guideline values?

You can find more information about guideline values and other related queries on the official Registration Department's website or use the find your SRO tool for assistance.