Guideline Value for Bhavanandhiar 2nd Street

Bhavanandhiar 2nd Street guideline value

The current guideline value of Bhavanandhiar 2nd 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 2nd Street has changed

The guideline value for Bhavanandhiar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. However, the value increased to Rs 2,500 per sq.ft again in 2012 and saw a significant rise of 49% to Rs 2,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

Chembakkam village has a total of 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Bhavanandhiar 2nd Street's 2024 value above this median.

• Bhavanandhiar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 1st Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 3rd Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 1st Cross 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 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bhavanandhiar 2nd Street?

The Sub Registrar Office that covers Bhavanandhiar 2nd 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 transactions in Chembakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This value is established by the government and reflects the minimum price at which properties can be registered.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the stamp duty and registration fees are charged based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Bhavanandhiar 2nd 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. It was Rs 1,675 per sq.ft in 2017, and Rs 2,500 per sq.ft in 2012.

What is the land classification of Bhavanandhiar 2nd Street?

Bhavanandhiar 2nd Street is classified as Residential Class I Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Bhavanandhiar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the stamp duty would be Rs 1,89,000.