Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area 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 significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased to Rs 804 per sq.ft in the 2017 revision, marking a 101% rise. The 2023 revision set the value at Rs 1,200 per sq.ft, reflecting a 49% increase from the previous revision. The current 2024 revision has further increased the guideline value to Rs 1,320 per sq.ft, a 10% rise from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Bhavani Nagar.

• Bhavani Naga 5th Street: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 1st Main Road: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 2nd Main Road: Rs 1,320 per sq.ft (2024)
• Bhavanar Street: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar 3rd Cross Street: Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Bhavani Nagar?

Bhavani Nagar is covered by 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 Pozhichalur

The guideline value plays a crucial role during the registration of property transactions in Pozhichalur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered, as it can impact the overall cost of the transaction. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 1,320 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 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 230%.

What are the stamp duty rates for property in Bhavani Nagar?

The stamp duty rate for property transactions in Bhavani Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Bhavani Nagar?

The Pammal Sub Registrar Office handles registrations for Bhavani Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the purpose of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring proper revenue collection by the government.