Guideline Value for Bhuvaneswari Avenue

Bhuvaneswari Avenue guideline value

The current guideline value of Bhuvaneswari Avenue in Vadaperumbakkam village, under the Redhills SRO, is Rs 1,004 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bhuvaneswari Avenue has changed

The guideline value for Bhuvaneswari Avenue has seen significant changes over the years. In 2003, the guideline value was Rs 38 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This marked a substantial rise of 689%. Following this, the value doubled to Rs 600 per sq.ft in 2012, but then decreased by 33% to Rs 402 per sq.ft in 2017. The value further increased to Rs 600 per sq.ft in 2023, and most recently, it surged by 67% to the current rate of Rs 1,004 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 2,542%. Notably, there is no figure available for the year 2002 for this street in the register.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Bhuvaneswari Avenue's 2024 figure slightly above this median.

• Buneshwari Nagar: Rs 1,006 per sq.ft (2024)
• Chelliyamman Nagar: Rs 1,003 per sq.ft (2024)
• Cherriyan Nagar: Rs 1,006 per sq.ft (2024)
• C.K. Madhavan Nagar Extension: Rs 1,004 per sq.ft (2024)
• Co-operative Nagar: Rs 1,000 per sq.ft (2024)
• Balaji Nagar: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,004 per sq.ft, the total guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, making the total cost for these fees Rs 90,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneswari Avenue?

The Sub Registrar Office that covers Bhuvaneswari Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both parties to be aware of this value to avoid any discrepancies in the transaction.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Avenue?

The current guideline value of Bhuvaneswari Avenue is Rs 1,004 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 38 per sq.ft in 2003 to Rs 1,004 per sq.ft in 2024, marking an overall increase of 2,542% over this period.

What is the land classification of Bhuvaneswari Avenue?

Bhuvaneswari Avenue is classified as Residential Class II Type - I.

What is the stamp duty rate for properties in Bhuvaneswari Avenue?

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

Where is the Sub Registrar Office for Bhuvaneswari Avenue located?

The Sub Registrar Office for Bhuvaneswari Avenue is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.