Guideline Value for Bhuvaneswari Nagar 11th Street

Bhuvaneswari Nagar 11th Street guideline value

The current guideline value of Bhuvaneswari Nagar 11th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Bhuvaneswari Nagar 11th Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained until the 2024 revision, which increased the value by 10% to Rs 2,750 per sq.ft. The register has no figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Bhuvaneswari Nagar 11th Street are from 2012 and 2024, marking a significant change in the guideline value over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Bhuvaneswari Nagar 11th Street above this median.

• Bhuvaneswari Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total costs together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Bhuvaneswari Nagar 11th Street?

The Bhuvaneswari Nagar 11th Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a benchmark during property transactions in Madambakkam. When registering a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on an official value rather than a negotiated sale price.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar 11th Street?

The current guideline value of Bhuvaneswari Nagar 11th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Bhuvaneswari Nagar 11th Street?

Bhuvaneswari Nagar 11th Street is classified as Commercial Class I Type - I. This classification can influence the type of development allowed in the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Bhuvaneswari Nagar 11th Street?

The Selaiyur Sub Registrar Office handles the registration for Bhuvaneswari Nagar 11th Street. The office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.