Guideline Value for Bavani Amman Koil st ( Ward No.9 )

Bavani Amman Koil st ( Ward No.9 ) guideline value

The current guideline value for Bavani Amman Koil st ( Ward No.9 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bavani Amman Koil st ( Ward No.9 ) has changed

The guideline value for Bavani Amman Koil st has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Between the revisions, the guideline value has changed significantly. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 8%, resulting in an overall increase of 8% from 2012 to 2024.

Guideline values in Madhavaram

In Madhavaram village, the 2024 guideline values range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Bavani Amman Koil st is below this median.

• Bavani Nagar 1st st ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Bavani Nagar 2nd st ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Bavani Nagar ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Bashyam Nagar (Ward-08): Rs 1,600 per sq.ft (2024)
• Bazaar st ( Ward No.10 ): Rs 3,300 per sq.ft (2024)
• Benny Colony (Ward-04): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bavani Amman Koil st ( Ward No.9 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bavani Amman Koil st ( Ward No.9 )?

The Sub Registrar Office that covers Bavani Amman Koil st ( Ward No.9 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in property transactions.

When registering a property, the guideline value is used to calculate the 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 for Bavani Amman Koil st?

The current guideline value for Bavani Amman Koil st ( Ward No.9 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of 2024.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for this street?

The Madhavaram Sub Registrar Office is responsible for Bavani Amman Koil st ( Ward No.9 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Bavani Amman Koil st?

Bavani Amman Koil st is classified as Residential Class III Type - I, indicating its designation for residential use within the area.