Guideline Value for BHAVANI NAGAR

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Chettipunniyam village, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Bhavani Nagar has changed

The guideline value for Bhavani Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was Rs 804 per sq.ft. The 2023 revision also maintained the value at Rs 1,200 per sq.ft, and the current 2024 revision continues this trend with a value of Rs 1,200 per sq.ft, reflecting a 0% change from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, comparing the 2012 revision to the current 2024 figure, there has been no change, as the value remains at Rs 1,200 per sq.ft.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft. The median value for these streets is Rs 900 per sq.ft, placing Bhavani Nagar's 2024 figure above this median.

• Chennais Enclave: Rs 1,800 per sq.ft (2024)
• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Daga Nagar: Rs 1,500 per sq.ft (2024)
• Azhagiri Nagar: Rs 700 per sq.ft (2024)
• Ganesan Nagar: Rs 900 per sq.ft (2024)
• G.K. Avenue: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, charged at 7%, would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 Nagar?

The Sub Registrar Office that covers Bhavani Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chettipunniyam. 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 registration regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft since 2012, with a decrease to Rs 804 per sq.ft in 2017 and returning to Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Bhavani Nagar?

Bhavani Nagar is classified as Residential Special Type - II under the Chengleput Joint II SRO.

What are the stamp duty rates for property transactions in Bhavani Nagar?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bhavani Nagar?

The Chengleput Joint II Sub Registrar Office, which covers Bhavani Nagar, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.