Guideline Value for Bavani Amman Nagar

Bavani Amman Nagar guideline value

The current guideline value of Bavani Amman Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Sirukalathur village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Bavani Amman Nagar has changed

The guideline value for Bavani Amman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 450 per sq.ft, which decreased to Rs 301 per sq.ft in the 2017 revision. However, the value saw a significant increase of 50% to Rs 450 per sq.ft in the 2023 revision, followed by another increase of 11% to the current Rs 500 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Sirukalathur

In Sirukalathur, there are 32 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,970 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value of Bavani Amman Nagar is below this median.

• Bhavani Amman Nagar II: Rs 500 per sq.ft (2024)
• Bhavani Nagar & II: Rs 500 per sq.ft (2024)
• Asd Mahathma Gandhi Nagar: Rs 650 per sq.ft (2024)
• A.R.K. Vigneshwar Nagar: Rs 500 per sq.ft (2024)
• Eathen Garden: Rs 550 per sq.ft (2024)
• Aariya Enclave: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bavani Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bavani Amman Nagar?

The Sub Registrar Office that covers Bavani Amman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sirukalathur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bavani Amman Nagar?

The current guideline value of Bavani Amman Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2012 to Rs 301 per sq.ft in 2017, then increased to Rs 450 per sq.ft in 2023, and finally to Rs 500 per sq.ft in 2024.

What is the land classification of Bavani Amman Nagar?

Bavani Amman Nagar is classified as Residential Class I Type - II.

What are the stamp duty rates in Bavani Amman Nagar?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.