Guideline Value for Bhavani Nagar Extn

Bhavani Nagar Extn guideline value

The current guideline value of Bhavani Nagar Extn, located in Salamangalam village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Bhavani Nagar Extn has changed

Over the years, the guideline value for Bhavani Nagar Extn has seen several revisions. The earliest available figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, in the subsequent revision of 2017, the value decreased to Rs 268 per sq.ft, reflecting a decline of 33%. The value then increased again to Rs 400 per sq.ft in 2023, remaining stable through to the 2024 revision, which also lists it at Rs 400 per sq.ft, showing no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision indicates a 100% increase in the guideline value.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median of Rs 500 per sq.ft. The guideline value for Bhavani Nagar Extn is below this median.

• Bhavani Nagar: Rs 400 per sq.ft (2024)
• Bajanai Koil street: Rs 300 per sq.ft (2024)
• Astro Gardens: Rs 400 per sq.ft (2024)
• Durgai Amman Nagar: Rs 550 per sq.ft (2024)
• Empire Avenue: Rs 400 per sq.ft (2024)
• Anna Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Nagar Extn?

The Sub Registrar Office that covers Bhavani Nagar Extn is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Salamangalam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction process.

When you buy or sell property, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations. This value helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Bhavani Nagar Extn?

The current guideline value of Bhavani Nagar Extn is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 400 per sq.ft from 2023 to 2024, but it has seen significant changes in previous years, including a decrease in 2017 and an increase from 2007 to 2012.

What is the land classification for Bhavani Nagar Extn?

Bhavani Nagar Extn falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Bhavani Nagar Extn?

The Sriperumpudur Sub Registrar Office covers Bhavani Nagar Extn, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Bhavani Nagar Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 28,000.