Guideline Value for Bhuvaneswari Nagar 6th Cross Street

Bhuvaneswari Nagar 6th Cross Street guideline value

The current guideline value of Bhuvaneswari Nagar 6th 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 6th Cross Street has changed

Over the years, the guideline value of Bhuvaneswari Nagar 6th Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, the most recent revision in 2024 has increased the value to Rs 2,750 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 10% in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The 2012 revision was a decrease of 33% from the previous figure in 2012 to 2017, which reflects the fluctuations in the guideline value over time.

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 value for these streets is Rs 2,400 per sq.ft, placing Bhuvaneswari Nagar 6th Cross Street's 2024 value above this median.

• Bhuvaneswari Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 5th Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 8th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar 6th 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 cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Nagar 6th Cross Street?

The Sub Registrar Office that covers Bhuvaneswari Nagar 6th 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 plays a crucial role in the registration of property transactions in Madambakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar 6th Cross Street?

The current guideline value of Bhuvaneswari Nagar 6th 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024. This represents a 64% increase from the 2017 figure.

What is the land classification of Bhuvaneswari Nagar 6th Cross Street?

Bhuvaneswari Nagar 6th Cross Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Bhuvaneswari Nagar 6th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.