Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

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

How the guideline value of Bhavani Nagar has changed

Over the years, the guideline value of Bhavani Nagar has seen several revisions. The 2007 revision set the value at Rs 195 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, there was a decrease to Rs 268 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 400 per sq.ft, which remains unchanged in the 2024 revision.

In summary, the changes between revisions show a significant increase of 105% from the 2007 revision to the 2024 revision. Notably, there was a 49% increase from 2017 to 2023, while the value decreased by 33% from 2012 to 2017.

Guideline values in Salamangalam

In Salamangalam village, 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. The median value is Rs 500 per sq.ft, which means Bhavani Nagar's 2024 figure is below this median.

• Bhavani Nagar Extn: 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)
• Anna Nagar: Rs 500 per sq.ft (2024)
• Empire Avenue: Rs 400 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total charges Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your specific fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Nagar?

The Sub Registrar Office that covers Bhavani Nagar 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 plays a critical role during the registration of property transactions in Salamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately, reflecting the legal value of the property. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

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

How has the guideline value of Bhavani Nagar changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 400 per sq.ft in 2023 and 2024, compared to Rs 268 per sq.ft in 2017 and Rs 195 per sq.ft in 2007.

What is the land classification for Bhavani Nagar?

Bhavani Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

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

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

How is the stamp duty calculated for property in Bhavani Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty at 7% would be Rs 28,000.