Guideline Value for Bavanandiar 2nd Street

Bavanandiar 2nd Street guideline value

The current guideline value of Bavanandiar 2nd 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 2nd Street has changed

The guideline value for Bavanandiar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and finally, it reached Rs 1,600 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, but the value saw a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 7% increase. Overall, from 2012 to 2024, the guideline value has increased by 7%.

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, with a median value of Rs 2,200 per sq.ft. Bavanandiar 2nd Street's 2024 figure of Rs 1,600 per sq.ft is below this median.

• Bavanandiar 1st 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 2nd 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, totaling Rs 1,44,000. Please 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 more details.

Which Sub Registrar Office covers Bavanandiar 2nd Street?

The Sub Registrar Office that covers Bavanandiar 2nd 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 online.

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

The guideline value is a crucial factor during property registration in Gowrivakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for any property transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value helps determine the minimum value on which the stamp duty is calculated. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the local market.

Frequently asked questions

What is the current guideline value of Bavanandiar 2nd Street?

The current guideline value of Bavanandiar 2nd 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 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 of Bavanandiar 2nd Street?

Bavanandiar 2nd Street is classified as Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

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 the stamp duty calculated for properties in Bavanandiar 2nd Street?

The 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%.