Guideline Value for Bavana Nagar

Bavana Nagar guideline value

The current guideline value of Bavana Nagar, located in Valarpuram village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Bavana Nagar has changed

The guideline value for Bavana Nagar has undergone several revisions over the years. The earliest available figure is from 2007, where it was set at Rs 100 per sq.ft. This figure increased significantly by 200% to Rs 300 per sq.ft in 2012. However, in 2017, the value decreased by 33% to Rs 201 per sq.ft. The next revision in 2023 maintained the value at Rs 300 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 300 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%, reflecting the changes over the years.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which aligns with the guideline value of Bavana Nagar.

• Barani Nagar: Rs 300 per sq.ft (2024)
• Bharathi Nagar: Rs 300 per sq.ft (2024)
• Balaji Nagar Extn: Rs 300 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Budhar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Bavana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, which totals Rs 21,000, while the registration fee is 2%, amounting to Rs 6,000. Together, the total cost for these fees would be Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Bavana Nagar?

Bavana Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Valarpuram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency and fairness in property dealings.

During registration, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Bavana Nagar?

The current guideline value of Bavana Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and finally returned to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Bavana Nagar?

Bavana Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Sriperumpudur Sub Registrar Office covers Bavana Nagar and is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Bavana Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.