Guideline Value for BHAVANI NAGAR

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Vellanoor-1 village under the Avadi SRO, is Rs 555 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Bhavani Nagar has changed

In the 2017 revision, the guideline value was set at Rs 335 per sq.ft. This figure increased significantly to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value rise to Rs 555 per sq.ft, which is an increase of 11% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellanoor-1

Vellanoor-1 village comprises 34 streets under the Avadi SRO, with guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value for these streets is Rs 555 per sq.ft, which is equal to the current guideline value for Bhavani Nagar.

• Bharathi Nagar: Rs 555 per sq.ft (2024)
• Chelliamman Nagar: Rs 555 per sq.ft (2024)
• Chelliyamman Nagar Phase - I: Rs 440 per sq.ft (2024)
• Arubadai Nagar: Rs 440 per sq.ft (2024)
• Arch Anthony Nagar: Rs 555 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 555 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 555 per sq.ft, the total guideline value amounts to Rs 5,55,000. The stamp duty at 7% would be Rs 38,850, and the registration fee at 2% would be Rs 11,100, resulting in a total of Rs 49,950. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

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

When a property is registered, the guideline value is compared to the sale price, with the duty being charged on the higher of the two. This ensures that the government receives the appropriate fees based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 555 per sq.ft in 2024, marking an overall increase of 66% over this period.

What are the guideline values of other streets in Vellanoor-1?

Other streets in Vellanoor-1 have guideline values ranging from Rs 440 to Rs 1,980 per sq.ft, with the median being Rs 555 per sq.ft, which is the same as Bhavani Nagar's current value.

What is the stamp duty rate for property in Bhavani Nagar?

The stamp duty rate for property in Bhavani Nagar is 7%, which is calculated on the higher of the guideline value or the sale price.

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

The Avadi Sub Registrar Office covers Bhavani Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.