Guideline Value for Bhuvaneswari Nagar II

Bhuvaneswari Nagar II guideline value

The current guideline value of Bhuvaneswari Nagar II is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kilay village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Bhuvaneswari Nagar II has changed

Over the years, the guideline value of Bhuvaneswari Nagar II has seen several revisions. The earliest recorded revision is from 2007, where the guideline value was Rs 70 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 329%. However, in the following revision in 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The value then increased again to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing an overall increase of 49% from 2017 to 2023.

The register has no figures for the years 2002 and 2003 for this street. The current guideline value of Rs 300 per sq.ft is consistent with the 2024 revision, which reflects the median value of Rs 300 per sq.ft for 31 streets in Kilay under the Sriperumpudur SRO.

Guideline values in Kilay

In Kilay, the guideline values for various streets range from Rs 100 to Rs 400 per sq.ft, with the median being Rs 300 per sq.ft. Bhuvaneswari Nagar II's 2024 guideline value aligns perfectly with this median.

• Bhuvaneswari Nagar VIII: Rs 300 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 300 per sq.ft (2024)
• Buvaneswari Nagar IV: Rs 300 per sq.ft (2024)
• Annai indra nagar: Rs 400 per sq.ft (2024)
• Ambedhkar Street: Rs 100 per sq.ft (2024)
• Green Field: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total amount for these fees Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Nagar II?

The Sub Registrar Office that covers Bhuvaneswari Nagar II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilay. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers need to be aware of the current guideline value to accurately estimate their costs during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar II?

The current guideline value of Bhuvaneswari Nagar II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification for Bhuvaneswari Nagar II?

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

Where can I find the Sub Registrar Office for Bhuvaneswari Nagar II?

The Sub Registrar Office for Bhuvaneswari Nagar II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bhuvaneswari Nagar II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.