Guideline Value for SRI BHUVANESWARI NAGAR

Sri Bhuvaneswari Nagar guideline value

The current guideline value of Sri Bhuvaneswari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This locality is situated in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Bhuvaneswari Nagar has changed

Over the years, the guideline value of Sri Bhuvaneswari Nagar has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. Prior to that, in 2017, the value was Rs 1,206 per sq.ft, marking a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

From the 2017 revision to the current 2024 revision, the overall increase is 64%. This reflects the changes in property values over the years within this locality.

Guideline values in Varadarajapuram

In Varadarajapuram, there are approximately 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Sri Bhuvaneswari Nagar's 2024 figure above this median.

• Sri Devi Karumari Nagar: Rs 1,980 per sq.ft (2024)
• Sri Balaji Nagar @ Mirudhula Homes: Rs 1,980 per sq.ft (2024)
• Sri Balaji Nagar‍ ‍‍- 56/1a: Rs 2,300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 990 per sq.ft (2024)
• Sri Angala Parameshwari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Ishwaryam Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhuvaneswari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. Please 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 Sri Bhuvaneswari Nagar?

Sri Bhuvaneswari Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Bhuvaneswari Nagar?

The current guideline value of Sri Bhuvaneswari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% over this period.

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

Other streets in Varadarajapuram with similar guideline values include Sri Devi Karumari Nagar and Sri Balaji Nagar @ Mirudhula Homes, both valued at Rs 1,980 per sq.ft in 2024.

What is the registration fee for a property in Sri Bhuvaneswari Nagar?

The registration fee for a property is typically 2% of the guideline value. For a property valued at Rs 19,80,000, the registration fee would be Rs 39,600.

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

The Sub Registrar Office covering Sri Bhuvaneswari Nagar is the Padappai SRO, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.