Guideline Value for Bhuvaneswari Nagar

Bhuvaneswari Nagar guideline value

The current guideline value of Bhuvaneswari Nagar, located in Kilay village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024, following the latest revision.

How the guideline value of Bhuvaneswari Nagar has changed

Over the years, the guideline value of Bhuvaneswari Nagar has seen several revisions. The earliest recorded value was Rs 70 per sq.ft in 2007, which increased significantly to Rs 300 per sq.ft in 2012. However, this value remained unchanged until the next revision in 2017, where it rose to Rs 201 per sq.ft, marking a 49% increase. The value then returned to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

The revisions for the years 2002 and 2003 do not have figures for this street in the register. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 329%.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is equal to the current value of Bhuvaneswari Nagar.

• Bhuvaneswari Nagar II: Rs 300 per sq.ft (2024)
• Bhuvaneswari Nagar VIII: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total 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 fees to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhuvaneswari Nagar?

Bhuvaneswari Nagar falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Kilay. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When registering a property, the guideline value helps to establish a fair value for the transaction, which is necessary for legal documentation. This process ensures that all parties involved are aware of the financial implications tied to the property being exchanged.

Frequently asked questions

What is the current guideline value of Bhuvaneswari Nagar?

The current guideline value of Bhuvaneswari Nagar 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 several times, starting from Rs 70 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then to Rs 201 per sq.ft in 2017, and returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Bhuvaneswari Nagar?

Bhuvaneswari Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Bhuvaneswari Nagar?

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