Guideline Value for Bhavanar Street

Bhavanar Street guideline value

The current guideline value of Bhavanar Street in Pozhichalur village, under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Bhavanar Street has changed

The guideline value for Bhavanar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, marking a substantial increase of 49% from 2017 to 2023. The overall change from the 2017 revision to the 2024 revision is an increase of 64%.

It is important to note that the register has no figures for Bhavanar Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which aligns with the current value for Bhavanar Street.

• Bhavani Naga 5th Street: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 1st Main Road: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 2nd Main Road: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 3rd Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavanar Street?

The Sub Registrar Office covering Bhavanar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. This value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Bhavanar Street?

The current guideline value of Bhavanar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the stamp duty for property in Bhavanar Street?

The stamp duty for property in Bhavanar Street is calculated at 7% of the guideline value. For a property valued at Rs 13,20,000, the stamp duty would amount to Rs 92,400.

Which Sub Registrar Office covers Bhavanar Street?

The Pammal Sub Registrar Office covers Bhavanar Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Bhavanar Street?

Bhavanar Street falls under the Residential Class I Type - II land classification, indicating its designation for residential use.