Guideline Value for Bhavanandhiar 7th Street

Bhavanandhiar 7th Street guideline value

The current guideline value of Bhavanandhiar 7th 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 7th Street has changed

Over the years, the guideline value of Bhavanandhiar 7th Street has seen significant changes. The 2007 revision set the value at Rs 300 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. In 2023, the value rose again to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 rate, the guideline value has increased by 800%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 value for these streets is Rs 2,200 per sq.ft, placing Bhavanandhiar 7th Street's 2024 value above this median.

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

Stamp duty and registration fee for property in Bhavanandhiar 7th Street

For a 1,000 sq.ft plot at the current rate, the 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. 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 more details.

Which Sub Registrar Office covers Bhavanandhiar 7th Street?

The Sub Registrar Office that covers Bhavanandhiar 7th 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 in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bhavanandhiar 7th Street?

The current guideline value of Bhavanandhiar 7th 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, marking an overall increase of 800% over the years.

What are the stamp duty and registration fees for properties in Bhavanandhiar 7th 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 7th Street?

The Selaiyur Sub Registrar Office covers Bhavanandhiar 7th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, with Bhavanandhiar 7th Street's value being above this median.