Guideline Value for Bavanandiar 1st Street

Bavanandiar 1st Street guideline value

The current guideline value of Bavanandiar 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Bavanandiar 1st Street has changed

The guideline value for Bavanandiar 1st Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,500 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Bavanandiar 1st Street is below this median.

• Bavanandiar 2nd Street: Rs 1,600 per sq.ft (2024)
• Bavanandiar 3rd Street: Rs 1,600 per sq.ft (2024)
• Bharathiar Street: Rs 880 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 4th Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 3rd Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bavanandiar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 information on fees.

Which Sub Registrar Office covers Bavanandiar 1st Street?

The Sub Registrar Office that covers Bavanandiar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Gowrivakkam

The guideline value is a crucial factor during the registration of property transactions in Gowrivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the local market standards. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Bavanandiar 1st Street?

The current guideline value of Bavanandiar 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Bavanandiar 1st Street?

Bavanandiar 1st Street is classified as Residential Special Type - II.

Where is the Sub Registrar Office located for this street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.