Guideline Value for Buvaneswari Nagar IV

Buvaneswari Nagar IV guideline value

The current guideline value of Buvaneswari Nagar IV is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kilay village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Buvaneswari Nagar IV has changed

The guideline value for Buvaneswari Nagar IV has undergone several revisions over the years. In 2007, the guideline value was Rs 70 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it decreased to Rs 201 per sq.ft in 2017. The value remained at Rs 300 per sq.ft in both 2023 and the upcoming 2024 revision, showing no change from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The substantial jump from 2007 to 2012 was 329%, while the overall increase from 2007 to 2024 is also 329%. This indicates a significant rise in the value of properties in this area over the years.

Guideline values in Kilay

Kilay village has a total of 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with the median being Rs 300 per sq.ft. Buvaneswari Nagar IV's 2024 figure aligns perfectly with this median.

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

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 fees Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Buvaneswari Nagar IV?

The Sub Registrar Office that covers Buvaneswari Nagar IV 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 critical factor when registering property transactions in Kilay. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Buvaneswari Nagar IV?

The current guideline value of Buvaneswari Nagar IV 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 remained at Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Buvaneswari Nagar IV?

The land classification for Buvaneswari Nagar IV is Residential Class I Type - I.

Where is the Sub Registrar Office for Buvaneswari Nagar IV located?

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

How is the stamp duty calculated for properties in Buvaneswari Nagar IV?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot valued at Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, leading to a stamp duty of Rs 21,000 at 7%.