Guideline Value for Bhuvaneswari Nagar VIII

Bhuvaneswari Nagar VIII guideline value

The current guideline value of Bhuvaneswari Nagar VIII is Rs 300 per sq.ft, effective from 1 July 2024. This street 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 VIII has changed

The guideline value for Bhuvaneswari Nagar VIII has seen several revisions over the years. The earliest recorded figure is from the 2007 revision at Rs 70 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision. This was a significant rise of 329%. However, the value then decreased to Rs 201 per sq.ft in the 2017 revision, marking a drop of 33%. The 2023 revision maintained the value at Rs 300 per sq.ft, and the same value has been carried forward to the 2024 revision, showing no change.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 329%.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median of Rs 300 per sq.ft. Bhuvaneswari Nagar VIII's 2024 figure aligns with this median.

• Bhuvaneswari Nagar II: 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 VIII

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Nagar VIII?

The Sub Registrar Office covering Bhuvaneswari Nagar VIII 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 is a crucial factor during the registration process of property transactions in Kilay. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps establish a fair transaction price. It is important for both buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar VIII?

The current guideline value of Bhuvaneswari Nagar VIII 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 2023 and 2024.

What are the other streets in Kilay with similar guideline values?

Other streets in Kilay with a guideline value of Rs 300 per sq.ft include Bhuvaneswari Nagar II, Bhuvaneswari Nagar, and Buvaneswari Nagar IV. There are also streets with values ranging from Rs 100 to Rs 400 per sq.ft.

How is stamp duty calculated for properties in Bhuvaneswari Nagar VIII?

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

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

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