Guideline Value for Bhuvaneswari Nagar 3rd Cross Street

Bhuvaneswari Nagar 3rd Cross Street guideline value

The current guideline value for Bhuvaneswari Nagar 3rd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Bhuvaneswari Nagar 3rd Cross Street has changed

Looking at the revisions, the guideline value for Bhuvaneswari Nagar 3rd Cross Street has remained stable at Rs 2,500 per sq.ft from 2012 until the 2023 revision. However, in the 2024 revision, it increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Between 2012 and 2024, the overall change in guideline value is also 10%. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register 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 for these streets is Rs 2,400 per sq.ft, placing Bhuvaneswari Nagar 3rd Cross Street above that median.

• Bhuvaneswari Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar 3rd Cross 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 duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuvaneswari Nagar 3rd Cross Street?

The Sub Registrar Office that covers Bhuvaneswari Nagar 3rd Cross 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Bhuvaneswari Nagar 3rd Cross Street?

The current guideline value for Bhuvaneswari Nagar 3rd Cross 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 until the 2023 revision, after which it increased to Rs 2,750 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Bhuvaneswari Nagar 3rd Cross Street?

Bhuvaneswari Nagar 3rd Cross Street is classified as Commercial Class I Type - I.

What are the stamp duty rates applicable in Madambakkam?

The stamp duty rate applicable in Madambakkam is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Bhuvaneswari Nagar 3rd Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Bhuvaneswari Nagar 3rd Cross Street, located in East Tambaram, Chennai.