Guideline Value for BHAVATHI PURAM

Bhavathi Puram guideline value

The current guideline value of Bhavathi Puram is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Bhavathi Puram has changed

Over the years, the guideline value of Bhavathi Puram has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 120 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017. The value remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024, and a 49% increase from 2017 to 2023.

Notably, the overall change from the 2007 revision to the 2024 revision is an increase of 317%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 500 to Rs 2,850 per sq.ft. The median guideline value is Rs 700 per sq.ft, placing Bhavathi Puram's 2024 figure below this median.

• Balaji Puram: Rs 700 per sq.ft (2024)
• Balaji Avenue: Rs 500 per sq.ft (2024)
• Durga Nagar: Rs 700 per sq.ft (2024)
• Annai Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Anantha Viniyaga Nagar: Rs 700 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavathi Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty is charged at 7%, amounting to Rs 35,000, and the registration fee at 2% is Rs 10,000. Together, the total cost for duty and registration fees would be Rs 45,000. 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 for more details.

Which Sub Registrar Office covers Bhavathi Puram?

The Sub Registrar Office that covers Bhavathi Puram 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 Perumattu Nellore

The guideline value plays a crucial role during the registration of property transactions in Perumattu Nellore. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that all transactions are fairly assessed based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bhavathi Puram?

The current guideline value of Bhavathi Puram is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, with the most recent being Rs 500 per sq.ft in 2023 and 2024. The value increased from Rs 335 per sq.ft in 2017 and has seen significant changes since 2007.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, with Bhavathi Puram's current value being below this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft would incur a total of Rs 45,000 in fees.

Which office handles property registrations for Bhavathi Puram?

The Chengleput Joint II Sub Registrar Office handles property registrations for Bhavathi Puram, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.