Guideline Value for BHAVANI AMMAN GARDEN

Bhavani Amman Garden guideline value

The current guideline value of Bhavani Amman Garden is Rs 248 per sq.ft, effective from 1 July 2024. This property is located in Thirunilai village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Bhavani Amman Garden has changed

Over the years, the guideline value of Bhavani Amman Garden has seen significant changes. In 2002, the guideline value was Rs 14 per sq.ft. This increased to Rs 16 per sq.ft in 2003, marking a 14% rise. The value then jumped to Rs 50 per sq.ft in 2007, which was a substantial increase of 213%. By 2012, the value was Rs 225 per sq.ft, reflecting a 350% increase from the previous revision. However, it decreased to Rs 151 per sq.ft in 2017, a decline of 33%. In 2023, the value rose again to Rs 226 per sq.ft, and the most recent revision in 2024 set the value at Rs 248 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1671%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Thirunilai

In Thirunilai, there are 10 streets under the Thiruvottiyur SRO that carry a 2024 guideline value of Rs 248 per sq.ft, with this street's figure equal to the median. The other streets in Thirunilai include:

• Bhavani Amman Avenue /Extn: Rs 248 per sq.ft (2024)
• BHAVANI AMMAN GARDEN Extention: Rs 248 per sq.ft (2024)
• MRK Pannai Thottam: Rs 248 per sq.ft (2024)
• New Star City: Rs 248 per sq.ft (2024)
• Pachaiamma Nagar: Rs 248 per sq.ft (2024)
• Pachaiamma Nagar Ext.: Rs 248 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Amman Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value would be Rs 2,48,000. The stamp duty at 7% would be Rs 17,360, and the registration fee at 2% would be Rs 4,960, bringing the total charges to Rs 22,320. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Amman Garden?

The Sub Registrar Office that covers Bhavani Amman Garden is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirunilai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bhavani Amman Garden?

The current guideline value of Bhavani Amman Garden is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 14 per sq.ft in 2002 to Rs 248 per sq.ft in 2024, reflecting an overall increase of 1671% over this period.

What is the stamp duty rate for properties in Bhavani Amman Garden?

The stamp duty rate for properties in Bhavani Amman Garden is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Bhavani Amman Garden?

The Sub Registrar Office for Bhavani Amman Garden is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Are there other streets in Thirunilai with the same guideline value?

Yes, there are other streets in Thirunilai that also carry a guideline value of Rs 248 per sq.ft for the year 2024.