Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Kavulbazaar village under the Pammal SRO, is Rs 825 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bhavani Nagar has changed

The guideline value for Bhavani Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 502 per sq.ft. This increased significantly to Rs 750 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 825 per sq.ft, which represents a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

Kavulbazaar village has a total of 44 streets under the Pammal SRO, with guideline values ranging from Rs 825 to Rs 4,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 825 per sq.ft, which is the same as the current value for Bhavani Nagar.

• Bajanai Koil Street (5): Rs 825 per sq.ft (2024)
• Bajanai Koil Street (4): Rs 825 per sq.ft (2024)
• Delhi Babu Street: Rs 825 per sq.ft (2024)
• Arcot Salai: Rs 1,100 per sq.ft (2024)
• Duraimani Salai: Rs 825 per sq.ft (2024)
• Anna Street: Rs 825 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 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, while the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bhavani Nagar?

The Sub Registrar Office that covers Bhavani Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Kavulbazaar

The guideline value is a crucial factor in the registration process when buying or selling property in Kavulbazaar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and now to Rs 825 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Bhavani Nagar?

Bhavani Nagar is classified as Residential Class II Type - I. This classification is important for understanding the type of development allowed in the area.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 8,25,000, the total fees would amount to Rs 74,250.

Where is the Sub Registrar Office for Bhavani Nagar located?

The Sub Registrar Office for Bhavani Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registrations for properties in the area.