Guideline Value for Sri Bhuvaneshwar Nagar

Sri Bhuvaneshwar Nagar guideline value

The current guideline value of Sri Bhuvaneshwar Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Pulikoradu village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Sri Bhuvaneshwar Nagar has changed

The guideline value for Sri Bhuvaneshwar Nagar has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 100 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a substantial rise of 500%. The value continued to rise, reaching Rs 800 per sq.ft in the 2023 revision, which was a 33% increase from the previous figure. The latest revision in 2024 sees the guideline value set at Rs 880 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Pulikoradu

In Pulikoradu village, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the guideline value of Sri Bhuvaneshwar Nagar.

• Sri Bhuvaneshwar Nagar Extn.: Rs 1,100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Sri Marudhi Avenue: Rs 1,100 per sq.ft (2024)
• Sri Pasumpon Nagar: Rs 2,200 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Selvapuram: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhuvaneshwar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Bhuvaneshwar Nagar?

The Sub Registrar Office that covers Sri Bhuvaneshwar Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Pulikoradu, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value set by the registration department to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Bhuvaneshwar Nagar?

The current guideline value of Sri Bhuvaneshwar Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What are the other streets in Pulikoradu with their guideline values?

Other streets in Pulikoradu include Sri Bhuvaneshwar Nagar Extn. at Rs 1,100 per sq.ft, Sri Mahalakshmi Nagar at Rs 2,200 per sq.ft, and several others, with the median value being Rs 880 per sq.ft.

What fees are associated with buying property in Sri Bhuvaneshwar Nagar?

When buying property in Sri Bhuvaneshwar Nagar, the buyer must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sri Bhuvaneshwar Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.