Guideline Value for Bhavanandhiar Street

Bhavanandhiar Street guideline value

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

How the guideline value of Bhavanandhiar Street has changed

The guideline value for Bhavanandhiar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the latest 2024 revision has increased it to Rs 2,700 per sq.ft.

In terms of percentage changes, the value increased by 733% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 800%. 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 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. Bhavanandhiar Street's 2024 figure of Rs 2,700 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is 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, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Bhavanandhiar Street?

The Sub Registrar Office that covers Bhavanandhiar 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 in property transactions in Chembakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure that they are complying with legal requirements during the registration process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhavanandhiar Street?

The current guideline value of Bhavanandhiar 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 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 is the land classification for Bhavanandhiar Street?

Bhavanandhiar 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.