Guideline Value for BHAVANI NAGAR

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar is Rs 555 per sq.ft, effective from 1 July 2024. This area is located in Vellanoor-2 village, under the Avadi SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bhavani Nagar has changed

The guideline value for Bhavani Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The latest revision in 2024 has set the value at Rs 555 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 66%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the guideline value during that period.

Guideline values in Vellanoor-2

In Vellanoor-2, there are 31 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,800 per sq.ft. The median value for these streets is Rs 555 per sq.ft, which is the same as the current guideline value for Bhavani Nagar.

• Chelliyamman Nagar Phase - I: Rs 440 per sq.ft (2024)
• Arubadai Nagar: Rs 440 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 555 per sq.ft (2024)
• Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Anitha Nagar: Rs 555 per sq.ft (2024)
• Ganesh 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 5,55,000, the stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100. Together, the total fees would be Rs 49,950. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 information.

How the guideline value is used when you buy or sell in Vellanoor-2

The guideline value plays a crucial role during the registration of property transactions in Vellanoor-2. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

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?

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

What is the land classification for Bhavani Nagar?

Bhavani Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

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

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

How is the stamp duty calculated for property in Bhavani Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,55,000, the stamp duty would be Rs 38,850.