Guideline Value for Bhavanandhiar 3rd Street

Bhavanandhiar 3rd Street guideline value

The current guideline value of Bhavanandhiar 3rd 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Bhavanandhiar 3rd Street has changed

Since the 2012 revision, the guideline value for Bhavanandhiar 3rd Street has seen various changes. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision value of Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, followed by a further increase of 8% to the current value of Rs 2,700 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the increase is 8%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Bhavanandhiar 3rd Street is above this median.

• Bhavanandhiar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 4th Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 5th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavanandhiar 3rd 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 to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavanandhiar 3rd Street?

The Sub Registrar Office that covers Bhavanandhiar 3rd 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 details.

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

The guideline value is a crucial factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of a property.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bhavanandhiar 3rd Street?

The current guideline value of Bhavanandhiar 3rd 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, marking an 8% increase. 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 3rd Street?

Bhavanandhiar 3rd Street falls under the Residential Class I Type - III land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property 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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Bhavanandhiar 3rd Street?

The Selaiyur Sub Registrar Office, which covers Bhavanandhiar 3rd Street, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.