Guideline Value for BHAVANI NAGAR (CHEN)

Bhavani Nagar (Chen) guideline value

The current guideline value of Bhavani Nagar (Chen) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Bhavani Nagar (Chen) has changed

The guideline value for Bhavani Nagar (Chen) has seen several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017, marking a decline of 33%. However, this trend reversed in subsequent years, with the value rising to Rs 700 per sq.ft in 2023 and further increasing to Rs 770 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to a higher level. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Bhavani Nagar (Chen) below this median.

• Big Street (Chen): Rs 770 per sq.ft (2024)
• Chenkundram Road (Chen): Rs 1,100 per sq.ft (2024)
• Chenkundram Tnhb (Chen): Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street (Chen): Rs 660 per sq.ft (2024)
• Ats Twin Avenue Phase-II: Rs 660 per sq.ft (2024)
• Ats Twin Avenue Phase-I: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Nagar (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that 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 Bhavani Nagar (Chen)?

The Sub Registrar Office that covers Bhavani Nagar (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sengundram - 1. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps in assessing the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhavani Nagar (Chen)?

The current guideline value of Bhavani Nagar (Chen) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Bhavani Nagar (Chen)?

Bhavani Nagar (Chen) is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Bhavani Nagar (Chen)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,70,000, the total fees would amount to Rs 69,300.

Where is the Sub Registrar Office for Bhavani Nagar (Chen)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.