Guideline Value for Bhavanandhiar 2nd Cross Street

Bhavanandhiar 2nd Cross Street guideline value

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

How the guideline value of Bhavanandhiar 2nd Cross Street has changed

Over the years, the guideline value of Bhavanandhiar 2nd Cross Street has seen significant changes. In 2007, the value was Rs 300 per sq.ft, which rose dramatically to Rs 2,500 per sq.ft in 2012, marking an increase of 733%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The subsequent revisions saw a rise to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,700 per sq.ft in 2024, reflecting an increase of 8%.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 800%. It is important to note that the register has no figure for this street in 2002 and 2003.

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 this area is Rs 2,200 per sq.ft, making the 2024 value of Bhavanandhiar 2nd Cross Street above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 2,43,000. Please 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 more details.

Which Sub Registrar Office covers Bhavanandhiar 2nd Cross Street?

The Sub Registrar Office that covers Bhavanandhiar 2nd Cross 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 an important factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When you buy or sell a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on an official valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall transaction costs. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Bhavanandhiar 2nd Cross Street?

The current guideline value of Bhavanandhiar 2nd Cross 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 300 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 800% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which means that the value of Bhavanandhiar 2nd Cross Street is above this median.

What are the stamp duty and registration fees for properties in this area?

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

Which office handles property registrations for Bhavanandhiar 2nd Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Bhavanandhiar 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.