Guideline Value for Sree Bhuvaneswari Nagar

Sree Bhuvaneswari Nagar guideline value

The current guideline value of Sree Bhuvaneswari Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Venkadu village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Sree Bhuvaneswari Nagar has changed

Over the years, the guideline value of Sree Bhuvaneswari Nagar has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 650%. However, in the 2017 revision, the value dropped to Rs 201 per sq.ft, a decrease of 33%. The value remained unchanged at Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

In summary, from 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the current 2024 value reflects a substantial increase of 650%.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with the median value being Rs 300 per sq.ft. Sree Bhuvaneswari Nagar's 2024 guideline value aligns with this median.

• Siva Vishnu Garden: Rs 300 per sq.ft (2024)
• Shanthi Nagar: Rs 300 per sq.ft (2024)
• Royal Farms: Rs 310 per sq.ft (2024)
• Thulukkanathamman Koil Street: Rs 300 per sq.ft (2024)
• Pooja Avenue: Rs 300 per sq.ft (2024)
• P.G.Road: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Bhuvaneswari Nagar

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, 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 or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sree Bhuvaneswari Nagar?

The Sub Registrar Office that covers Sree Bhuvaneswari Nagar is 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 Venkadu

The guideline value is a key factor in property transactions in Venkadu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction process. It is crucial for buyers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sree Bhuvaneswari Nagar?

The current guideline value of Sree 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, from Rs 40 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreasing to Rs 201 per sq.ft in 2017, and remaining at Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification of Sree Bhuvaneswari Nagar?

Sree Bhuvaneswari Nagar is classified as Residential Class II Type - I.

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

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

How is the stamp duty calculated for properties in Venkadu?

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