Guideline Value for Bhavani Nagar & II

Bhavani Nagar & II guideline value

The current guideline value of Bhavani Nagar & II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Sirukalathur village and falls under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Bhavani Nagar & II has changed

The guideline value for Bhavani Nagar & II has seen several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 450 per sq.ft in 2012, marking a rise of 350%. However, this figure decreased to Rs 301 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 450 per sq.ft in 2023, followed by another increase to Rs 500 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Sirukalathur

In Sirukalathur, there are 32 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,970 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value of Bhavani Nagar & II is below this median.

• Bhavani Amman Nagar II: Rs 500 per sq.ft (2024)
• Bavani Amman Nagar: Rs 500 per sq.ft (2024)
• Asd Mahathma Gandhi Nagar: Rs 650 per sq.ft (2024)
• Eathen Garden: Rs 550 per sq.ft (2024)
• A.R.K. Vigneshwar Nagar: Rs 500 per sq.ft (2024)
• Aariya Enclave: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Nagar & II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making a total of Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavani Nagar & II?

The Sub Registrar Office that covers Bhavani Nagar & II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sirukalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs in the transaction. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhavani Nagar & II?

The current guideline value of Bhavani Nagar & II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What is the classification of Bhavani Nagar & II?

Bhavani Nagar & II is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.