Guideline Value for Bavani Nagar

Bavani Nagar guideline value

The current guideline value of Bavani Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Bavani Nagar has changed

Over the years, the guideline value of Bavani Nagar has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision brought it back up to Rs 2,300 per sq.ft, and the latest 2024 revision has increased it to Rs 2,500 per sq.ft.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Ambattur

Ambattur village has a total of 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft as of 2024. The median guideline value in this area is Rs 3,600 per sq.ft, which means that the guideline value of Bavani Nagar is below this median.

• Bazzar Street: Rs 6,500 per sq.ft (2024)
• Barathiyar Street: Rs 3,600 per sq.ft (2024)
• Bank Street (Ram Nagar): Rs 4,600 per sq.ft (2024)
• Bhagath Singh 1st Street(Thiruvalluvar nagar): Rs 1,400 per sq.ft (2024)
• Bhagavathi Ammal Koil St.: Rs 3,600 per sq.ft (2024)
• Bala vinayagar Kovil Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bavani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Bavani Nagar?

The Sub Registrar Office that covers Bavani Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Bavani Nagar?

The current guideline value of Bavani Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the classification of Bavani Nagar?

Bavani Nagar is classified as Residential Class III Type - II, indicating its suitability for residential development.

What are the guideline values of other streets in Ambattur?

Other streets in Ambattur have varying guideline values, with rates ranging from Rs 1,400 to Rs 8,209 per sq.ft, while the median value is Rs 3,600 per sq.ft.

Where can I find the Sub Registrar Office for Bavani Nagar?

The Sub Registrar Office covering Bavani Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.