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Guideline Value

Corporate

Guideline Value for Bavani Nagar 1st st ( Ward No.1 )

₹1300/sq.ft.

The guideline value for Bavani Nagar 1st St ( Ward No.1 ) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1300 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bavani Nagar 1st St ( Ward No.1 )

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Bavani Nagar 1st st ( Ward No.1 ) guideline value

The current guideline value of Bavani Nagar 1st st ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and the land classification is Residential Class III Type - I.

How the guideline value of Bavani Nagar 1st st ( Ward No.1 ) has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and then it rose again to Rs 1,300 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging 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 Nagar 1st st ( Ward No.1 ) is below this median.

Stamp duty and registration fee for property in Bavani Nagar 1st st ( Ward No.1 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 Nagar 1st st ( Ward No.1 )?

The Sub Registrar Office that covers Bavani Nagar 1st st ( Ward No.1 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an important factor when buying or selling property in Madhavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When you register a property, the fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bavani Nagar 1st st ( Ward No.1 )?

The current guideline value of Bavani Nagar 1st st ( Ward No.1 ) 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 seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the land classification for Bavani Nagar 1st st ( Ward No.1 )?

The land classification for Bavani Nagar 1st st ( Ward No.1 ) is Residential Class III Type - I.

What are the stamp duty and registration fees for property in Bavani Nagar 1st st ( Ward No.1 )?

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.

Which office handles registrations for Bavani Nagar 1st st ( Ward No.1 )?

The Madhavaram Sub Registrar Office handles registrations for Bavani Nagar 1st st ( Ward No.1 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.