Guideline Value for BHAVAN DASS GARDEN

Bhavan Dass Garden guideline value

The current guideline value of Bhavan Dass Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Bhavan Dass Garden has changed

The guideline value for Bhavan Dass Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which decreased the value to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft again, and the latest revision in 2024 raised it to Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

When examining the changes, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the current 2024 revision reflects a 13% increase. Notably, the register has no figures for Bhavan Dass Garden in the years 2002, 2003, and 2007.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the 2024 figure for Bhavan Dass Garden. Below are the guideline values for other streets in Chemmancheri:

• Bound Street: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar: Rs 3,900 per sq.ft (2024)
• Bennetgoal Men-Co: Rs 3,900 per sq.ft (2024)
• Chandra / Jothilakshmi Garden: Rs 1,700 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,700 per sq.ft (2024)
• Chemmanchery Estate: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavan Dass Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, leading to a total of Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavan Dass Garden?

The Sub Registrar Office that covers Bhavan Dass Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in calculating the costs associated with the transaction. Buyers and sellers must be aware that the stamp duty is charged based on the higher amount between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Bhavan Dass Garden?

The current guideline value of Bhavan Dass Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bhavan Dass Garden?

Bhavan Dass Garden is classified as Residential Class IV Type - I, indicating its use for residential purposes.

Which office handles property registrations for Bhavan Dass Garden?

The Neelankarai Sub Registrar Office handles property registrations for Bhavan Dass Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Chemmancheri?

Stamp duty for properties in Chemmancheri is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the correct amount is paid during the registration process.