Guideline Value for Bavanandiar 3rd Street

Bavanandiar 3rd Street guideline value

The current guideline value of Bavanandiar 3rd 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 3rd Street has changed

Over the years, the guideline value of Bavanandiar 3rd Street has seen several revisions. The 2012 revision listed the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register does not contain 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, with a median value of Rs 2,200 per sq.ft. The guideline value of Bavanandiar 3rd Street is below this median.

• Bavanandiar 2nd Street: Rs 1,600 per sq.ft (2024)
• Bavanandiar 1st 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 3rd 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 amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total 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 details.

Which Sub Registrar Office covers Bavanandiar 3rd Street?

The Sub Registrar Office that covers Bavanandiar 3rd 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 further assistance.

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

When buying or selling property in Gowrivakkam, the guideline value plays a crucial role during the registration process. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

The guideline value is essential for calculating the stamp duty and registration fees, which are mandatory costs incurred during the transfer of property ownership. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Bavanandiar 3rd Street?

The current guideline value of Bavanandiar 3rd 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 back 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 3rd Street?

Bavanandiar 3rd Street is classified as Residential Special Type - II according to the guideline value register.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where can I find the Sub Registrar Office for Bavanandiar 3rd Street?

The Sub Registrar Office for Bavanandiar 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.