Guideline Value for BHEL AVENUE

Bhel Avenue guideline value

The current guideline value of Bhel Avenue, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Bhel Avenue has changed

Over the years, the guideline value of Bhel Avenue has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 36%. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value has remained the same, with no net change.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, positioning Bhel Avenue's 2024 figure above this median.

• Bhavani Nagar: Rs 2,200 per sq.ft (2024)
• Bharthipuram 4th Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 1st Street & 2nd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram: Rs 2,750 per sq.ft (2024)
• Bharathipuram Kattabomman Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bhel Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Bhel Avenue?

Bhel Avenue falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value plays a crucial role in property transactions in Nemilicherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate stamp duty and registration fees, which are essential costs associated with property transactions. It is important to be aware of these fees to budget accordingly when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Bhel Avenue?

The current guideline value of Bhel Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has varied over the years, with the 2012 figure at Rs 2,200 per sq.ft, dropping to Rs 1,474 per sq.ft in 2017, then rising to Rs 2,000 per sq.ft in 2023, and finally returning to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bhel Avenue?

Bhel Avenue is classified as Residential Class I Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Bhel Avenue?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Bhel Avenue?

The Sub Registrar Office covering Bhel Avenue is the Pallavaram SRO, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.