Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Bhavani Nagar has changed

The guideline value for Bhavani Nagar has seen several revisions over the years. In the 2003 revision, the guideline value was Rs 173 per sq.ft. This increased significantly to Rs 488 per sq.ft in 2007, marking a change of +182%. The value continued to rise, reaching Rs 2,300 per sq.ft in 2012, which represented an increase of +371% from the previous revision. However, it then dropped to Rs 1,541 per sq.ft in 2017, a decrease of -33%.

From 2017 to 2023, the guideline value increased to Rs 2,300 per sq.ft, reflecting a change of +49%. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, which is an increase of +10% from the 2023 figure. Overall, from 2003 to 2024, the guideline value has increased by +1362%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is equal to the current value of Bhavani Nagar.

• Bharath Nagar Main Road: Rs 2,530 per sq.ft (2024)
• Bharath Nagar: Rs 2,530 per sq.ft (2024)
• Big Street: Rs 2,530 per sq.ft (2024)
• Bharathi Nagar: Rs 2,530 per sq.ft (2024)
• Bluebell School Main Road: Rs 2,160 per sq.ft (2024)
• Boobathi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavani Nagar?

The Sub Registrar Office that covers Bhavani Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

At the time of registration, the guideline value is compared with the sale price, and the higher figure is used to calculate the applicable duties and fees. This ensures that both parties are aware of the financial implications of the property transaction.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 173 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of +1362%.

What is the land classification for Bhavani Nagar?

Bhavani Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in Bhavani Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,27,700.

Which office handles registrations for Bhavani Nagar?

The Pallavaram Sub Registrar Office handles registrations for Bhavani Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.