Guideline Value for Buvaneshwari Nagar

Buvaneshwari Nagar guideline value

The current guideline value of Buvaneshwari Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is part of Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Buvaneshwari Nagar has changed

Over the years, the guideline value of Buvaneshwari Nagar has seen several revisions. The 2017 revision set the value at Rs 268 per sq.ft, which remained unchanged at Rs 400 per sq.ft during the 2023 revision. The current 2024 revision also maintains this value at Rs 400 per sq.ft, marking a 49% increase from the 2017 figure.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions with figures are from 2017, 2023, and 2024, showing no change between 2023 and 2024, but a significant increase of 49% from 2017 to 2024.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, indicating that Buvaneshwari Nagar's 2024 figure is below that median.

• Bypass Road (Ward 2): Rs 2,500 per sq.ft (2024)
• Casa Grande Futura: Rs 1,200 per sq.ft (2024)
• Chanduvazhi Amman Koil Street: Rs 1,000 per sq.ft (2024)
• Chekkadi Street: Rs 700 per sq.ft (2024)
• Chellaperumal Nagar: Rs 700 per sq.ft (2024)
• Chellaperumal Nagar IIIrd Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Buvaneshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total fees together Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Buvaneshwari Nagar?

Buvaneshwari Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sriperumbudur A. 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 sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Buvaneshwari Nagar?

The current guideline value of Buvaneshwari Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to the current value.

What are the stamp duty and registration fees for a property in Buvaneshwari Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles the registration for Buvaneshwari Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for calculating the fees.