Guideline Value for Bavani Street

Bavani Street guideline value

The current guideline value of Bavani Street in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Bavani Street has changed

The guideline value for Bavani Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Bavani Street.

• Barathidasan Street: Rs 2,530 per sq.ft (2024)
• Balaraman Street: Rs 2,530 per sq.ft (2024)
• Bharathidasan Cross Street: Rs 2,530 per sq.ft (2024)
• Balaji Nagar Narmadha Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Kaveri Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bavani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Bavani Street?

The Sub Registrar Office that covers Bavani Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

When buying or selling property in Irumpuliyur, the guideline value is a crucial factor in determining the stamp duty and registration fees payable. The guideline value is set by the government and serves as a benchmark for property transactions, ensuring that the taxes are calculated fairly based on the established rates.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs involved in the transaction. Understanding these values can help in better financial planning and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bavani Street?

The current guideline value of Bavani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Bavani Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 22,00,000. The stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Bavani Street?

The Tambaram Joint 1 Sub Registrar Office covers Bavani Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Bavani Street?

The land classification for Bavani Street is Residential Special Type - II.