Guideline Value for BHAVANI NAGAR

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in SingaperumalKoil village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Bhavani Nagar has changed

The guideline value for Bhavani Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. In 2023, the value increased to Rs 1,000 per sq.ft, and in the latest 2024 revision, it rose to Rs 1,100 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, followed by a 10% increase from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, 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 SingaperumalKoil

In SingaperumalKoil, there are 33 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Bhavani Nagar.

• Bharathiyar Street (West Side From G.S.T): Rs 1,500 per sq.ft (2024)
• Buthar Street: Rs 1,500 per sq.ft (2024)
• Avvaiyar Street: Rs 800 per sq.ft (2024)
• Anna Nagar: Rs 1,100 per sq.ft (2024)
• Gandhi Road: Rs 1,100 per sq.ft (2024)
• Gengaiamman Koil Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 to estimate your costs.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in SingaperumalKoil. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the purchase or sale of a property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions, which is essential for both buyers and sellers to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

Which Sub Registrar Office covers Bhavani Nagar?

Bhavani Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

What are the other streets in SingaperumalKoil with guideline values?

Other streets in SingaperumalKoil include Bharathiyar Street, Buthar Street, Avvaiyar Street, Anna Nagar, Gandhi Road, and Gengaiamman Koil Street, with values ranging from Rs 800 to Rs 1,500 per sq.ft in 2024.