Guideline Value for Bhavanandhiar 6th Street

Bhavanandhiar 6th Street guideline value

The current guideline value of Bhavanandhiar 6th Street, located in Chembakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Bhavanandhiar 6th Street has changed

The guideline value for Bhavanandhiar 6th Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, the value dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 2,700 per sq.ft, reflecting an 8% rise.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 800%.

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 for these streets is Rs 2,200 per sq.ft, placing Bhavanandhiar 6th Street's 2024 figure above this median.

• Bhavanandhiar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 7th Cross Street (Chakrapani Street): Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 5th Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 7th Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavanandhiar 6th 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, while the registration fee at 2% would be Rs 54,000, bringing the total cost for these 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavanandhiar 6th Street?

The Sub Registrar Office that covers Bhavanandhiar 6th 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 plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should consider this value to understand their financial obligations better and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bhavanandhiar 6th Street?

The current guideline value of Bhavanandhiar 6th 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 significantly 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 are the stamp duty and registration fees for property in Bhavanandhiar 6th Street?

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 Sub Registrar Office covers Bhavanandhiar 6th Street?

The Selaiyur Sub Registrar Office covers Bhavanandhiar 6th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Bhavanandhiar 6th Street?

Bhavanandhiar 6th Street falls under the Residential Class I Type - III land classification.