Guideline Value for Bhavani Amman Koil Street (Bhavani Nagar)

Bhavani Amman Koil Street (Bhavani Nagar) guideline value

The current guideline value of Bhavani Amman Koil Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bhavani Amman Koil Street (Bhavani Nagar) has changed

The guideline value for Bhavani Amman Koil Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it decreased to Rs 469 per sq.ft in 2017. The value then rose significantly to Rs 700 per sq.ft in 2023, and currently stands at Rs 770 per sq.ft from the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 93%. The changes between the revisions include a 75% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Bhavani Amman Koil Street's 2024 figure aligns with this median.

• Bhavani Nagar: Rs 770 per sq.ft (2024)
• Bharat Nagar Extn.: Rs 660 per sq.ft (2024)
• Bharath Nagar: Rs 770 per sq.ft (2024)
• Bharathi Nagar: Rs 770 per sq.ft (2024)
• Bharathidasan Street: Rs 770 per sq.ft (2024)
• Bharathiar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Amman Koil Street (Bhavani Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty is charged at 7%, which is Rs 53,900, and the registration fee at 2% amounts to Rs 15,400. Together, the total fees would be Rs 69,300. 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 Bhavani Amman Koil Street (Bhavani Nagar)?

The Sub Registrar Office that covers Bhavani Amman Koil Street (Bhavani Nagar) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

When buying or selling property in Padiyanallur, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is set by the government and reflects the market value of the property, ensuring that the transaction is recorded accurately for taxation purposes.

During the registration process, the guideline value is used to calculate the applicable fees, which are mandatory for all property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Bhavani Amman Koil Street?

The current guideline value of Bhavani Amman Koil Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024. Notably, it decreased from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, before increasing again to the current value.

What are the other streets in Padiyanallur with their guideline values?

Other streets in Padiyanallur include Bhavani Nagar at Rs 770 per sq.ft, Bharat Nagar Extn. at Rs 660 per sq.ft, and several others, all with varying guideline values as listed above.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Bhavani Amman Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office that covers Bhavani Amman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.