Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special 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 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 389%. However, it then decreased to Rs 1,474 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,200 per sq.ft in 2023, before reaching the current figure of Rs 2,400 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 433%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Bhavani Nagar's current value above this median.

• Bharatwajar Street: Rs 3,300 per sq.ft (2024)
• Bharath Nagar (Gangai Amman Koil Street): Rs 1,800 per sq.ft (2024)
• Bharath Nagar: Rs 850 per sq.ft (2024)
• Bharathiyar Street: Rs 850 per sq.ft (2024)
• Bharathi Nagar Pallikuda Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Palayathan Street: Rs 1,800 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost of these fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Nagar?

The Sub Registrar Office that covers Bhavani Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Selaiyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that both parties in the transaction are aware of the financial obligations involved.

During the registration process, the guideline value is compared to the sale price of the property. The higher value is used to calculate the stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 433% over the years.

What is the land classification for Bhavani Nagar?

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

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

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Where is the Sub Registrar Office for Bhavani Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.