Guideline Value for Bavani Street

Bavani Street guideline value

The current guideline value of Bavani Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Bavani Street has changed

The guideline value for Bavani Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. The subsequent 2023 revision increased the value to Rs 1,000 per sq.ft, followed by the current 2024 revision, which raised it further to Rs 1,100 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Bavani Street's current guideline value is below this median.

• Barathi Dossan Nagar: Rs 1,980 per sq.ft (2024)
• Bangaru Kamatchi amman st: Rs 1,650 per sq.ft (2024)
• Ballikuda 2nd Street: Rs 1,650 per sq.ft (2024)
• Ballikuda 1st street: Rs 1,650 per sq.ft (2024)
• Bharathi Cross Street: Rs 1,320 per sq.ft (2024)
• Balakrishnan Street: Rs 1,650 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. 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 more details.

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 more information.

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

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Bavani Street?

The current guideline value of Bavani Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Bavani Street?

Bavani Street is classified as Residential Class II Type - I under the Tambaram Joint 1 SRO.

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

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

How is the stamp duty calculated for property in Bavani Street?

The stamp duty for property in Bavani Street is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.