Guideline Value for Bhavanandhiar 1st Street

Bhavanandhiar 1st Street guideline value

The current guideline value of Bhavanandhiar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bhavanandhiar 1st Street has changed

Over the years, the guideline value for Bhavanandhiar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Bhavanandhiar 1st Street's 2024 figure above this median.

• Bhavanandhiar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 3rd Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavanandhiar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property.

Which Sub Registrar Office covers Bhavanandhiar 1st Street?

The Sub Registrar Office that covers Bhavanandhiar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor during property registration in Chembakkam, 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 need to be paid at the time of transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers should ensure they understand how this value affects their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Bhavanandhiar 1st Street?

The current guideline value of Bhavanandhiar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, which is an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Bhavanandhiar 1st Street?

Bhavanandhiar 1st Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in Bhavanandhiar 1st Street?

For a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Bhavanandhiar 1st Street?

The Selaiyur Sub Registrar Office covers Bhavanandhiar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.