Guideline Value for Bhavanandhiar 8th Street

Bhavanandhiar 8th Street guideline value

The current guideline value of Bhavanandhiar 8th 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 8th Street has changed

Over the years, the guideline value of Bhavanandhiar 8th Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision then increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values for 2024 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 8th Street's 2024 value above the median.

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

Stamp duty and registration fee for property in Bhavanandhiar 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, 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.

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

Which Sub Registrar Office covers Bhavanandhiar 8th Street?

The Sub Registrar Office that covers Bhavanandhiar 8th 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.

To find your SRO, you can visit find your SRO.

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 the basis for calculating the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bhavanandhiar 8th Street?

The current guideline value of Bhavanandhiar 8th 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 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Bhavanandhiar 8th Street?

Bhavanandhiar 8th 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 a property in Bhavanandhiar 8th Street?

The stamp duty is calculated at 7% of the higher of the guideline value or the sale price. 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.