Guideline Value for Bhuvaneswari Nagar

Bhuvaneswari Nagar guideline value

The current guideline value of Bhuvaneswari Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 807 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Bhuvaneswari Nagar has changed

The guideline value for Bhuvaneswari Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then increased to Rs 335 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 807 per sq.ft, representing an increase of 141%. The 2023 revision also maintained the value at Rs 807 per sq.ft for the 2024 revision, indicating no change.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 61% from Rs 500 per sq.ft in 2012 to Rs 807 per sq.ft in 2024.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the village is Rs 870 per sq.ft, placing Bhuvaneswari Nagar's 2024 figure below this median.

• Bhuvaneswari Street: Rs 880 per sq.ft (2024)
• Bible Street: Rs 880 per sq.ft (2024)
• Bhavanar Street: Rs 880 per sq.ft (2024)
• Bharath Nagar: Rs 1,100 per sq.ft (2024)
• Bound Street: Rs 880 per sq.ft (2024)
• Brindhavan Nagar: Rs 805 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 807 per sq.ft, the total guideline value would be Rs 8,07,000. The stamp duty at 7% would amount to Rs 56,490, and the registration fee at 2% would be Rs 16,140, bringing the total cost to Rs 72,630. 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 information on fees.

Which Sub Registrar Office covers Bhuvaneswari Nagar?

Bhuvaneswari Nagar falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your specific SRO, visit find your SRO.

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

The guideline value plays a critical role during the registration process of property transactions in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar?

The current guideline value of Bhuvaneswari Nagar is Rs 807 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 807 per sq.ft in 2024, showing an overall increase of 61% during this period.

What is the stamp duty for property in Bhuvaneswari Nagar?

The stamp duty for property in Bhuvaneswari Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Ambattur Sub Registrar Office covers Bhuvaneswari Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the guideline values of other streets in Kovilpathagai?

Other streets in Kovilpathagai have varying guideline values, with rates ranging from Rs 803 to Rs 2,900 per sq.ft. For example, Bhuvaneswari Street, Bible Street, and Bhavanar Street each have a guideline value of Rs 880 per sq.ft in 2024.