Guideline Value for Bhuvaneswari nagar 2nd Street

Bhuvaneswari nagar 2nd Street guideline value

The current guideline value of Bhuvaneswari nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bhuvaneswari nagar 2nd Street has changed

The guideline value for Bhuvaneswari nagar 2nd Street has undergone several revisions since 2012. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, from 2023 to 2024, the value increased by 10% to Rs 3,300 per sq.ft. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

There are no figures available in the register for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that Bhuvaneswari nagar 2nd Street's 2024 figure is below the median.

• Bhuvaneswari nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bhuvaneshwari Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 3,300 per sq.ft (2024)
• B.N.Ramamurthy Nagar: Rs 3,850 per sq.ft (2024)
• Bhavani Nagar: Rs 4,400 per sq.ft (2024)
• Brindavan 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuvaneswari nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total cost of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bhuvaneswari nagar 2nd Street?

The Sub Registrar Office that covers Bhuvaneswari nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Valasaravakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees payable at the time of registration. The guideline value is established by the Registration Department and serves as a benchmark for property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value ensures that the property is registered at a fair value, reflecting the market conditions and property classification.

Frequently asked questions

What is the current guideline value of Bhuvaneswari nagar 2nd Street?

The current guideline value of Bhuvaneswari nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,000 per sq.ft from 2012 to 2023, and then increased to Rs 3,300 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification for Bhuvaneswari nagar 2nd Street?

Bhuvaneswari nagar 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, on a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000.

Which office handles registrations for properties in Bhuvaneswari nagar 2nd Street?

The Virugambakkam Sub Registrar Office handles registrations for properties in Bhuvaneswari nagar 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.