Guideline Value for Bhavanar Street

Bhavanar Street guideline value

The current guideline value of Bhavanar Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Bhavanar Street has changed

The guideline value for Bhavanar Street has seen several revisions over the years. In 2012, the value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then further rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value is Rs 870 per sq.ft, placing Bhavanar Street's 2024 figure above that median.

• Bharath Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 807 per sq.ft (2024)
• Bhuvaneswari Street: Rs 880 per sq.ft (2024)
• Bible Street: Rs 880 per sq.ft (2024)
• Bharathi Street: Rs 1,100 per sq.ft (2024)
• Bharathi Nagar Extensition: Rs 1,100 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 information.

Which Sub Registrar Office covers Bhavanar Street?

The Sub Registrar Office that covers Bhavanar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kovilpathagai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and helps in the smooth processing of property transactions.

Frequently asked questions

What is the current guideline value of Bhavanar Street?

The current guideline value of Bhavanar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Bhavanar Street?

Bhavanar Street is classified as Residential Class II Type - I.

Where can I find the registration office for Bhavanar Street?

The registration office for Bhavanar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Bhavanar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.