Guideline Value for Bhuvaneswari Nagar 2nd Street

Bhuvaneswari Nagar 2nd Street guideline value

The current guideline value of Bhuvaneswari Nagar 2nd 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 2nd Street has changed

The guideline value for Bhuvaneswari Nagar 2nd Street has seen various revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 2,500 per sq.ft, but in 2024, it increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Bhuvaneswari Nagar 2nd Street's 2024 value above that median.

• Bhuvaneswari Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar 2nd Street

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

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneswari Nagar 2nd Street?

The Sub Registrar Office covering Bhuvaneswari Nagar 2nd Street is 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 is a crucial factor during property registration in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure that they understand the implications of the guideline value on their overall expenses during the registration process.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar 2nd Street?

The current guideline value of Bhuvaneswari Nagar 2nd 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 has remained at Rs 2,500 per sq.ft from 2012 to 2023, before increasing to Rs 2,750 per sq.ft in 2024. This represents a 10% increase from 2023 to 2024.

What is the land classification for Bhuvaneswari Nagar 2nd Street?

Bhuvaneswari Nagar 2nd Street is classified as Commercial Class I Type - I.

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

For a property valued at the guideline rate of 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.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.