Guideline Value for BHAVANI NGAR

Bhavani Ngar guideline value

The current guideline value of Bhavani Ngar, located in Kovilancheri village, is Rs 1,100 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Bhavani Ngar has changed

The guideline value for Bhavani Ngar has seen significant changes over the years. In the 2017 revision, the value was set at Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Kovilancheri

In Kovilancheri, there are 13 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,130 per sq.ft. The median value among these streets is Rs 1,660 per sq.ft, indicating that Bhavani Ngar's 2024 figure is below this median.

• Durapathyamman Nagar: Rs 1,100 per sq.ft (2024)
• El Castillo: Rs 4,110 per sq.ft (2024)
• Elite Crystal Gate: Rs 2,750 per sq.ft (2024)
• Akshayam Diamond Avenue: Rs 4,130 per sq.ft (2024)
• Aiswarya Nagar: Rs 1,660 per sq.ft (2024)
• Rakeshsharma Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Ngar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bhavani Ngar?

The Bhavani Ngar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kovilancheri. It serves as the benchmark for determining the stamp duty and registration fees applicable when buying or selling property in this area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This process helps maintain transparency and adherence to legal requirements in real estate dealings.

Frequently asked questions

What is the current guideline value of Bhavani Ngar?

The current guideline value of Bhavani Ngar 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 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and then to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

What is the land classification of Bhavani Ngar?

Bhavani Ngar is classified as Residential Special Type - II, which influences its guideline value and usage.

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

The Tambaram Joint 1 Sub Registrar Office covers Bhavani Ngar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Bhavani Ngar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at a rate of 7%.