Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Siru Mathoor village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Bhavani Nagar has changed

Over the years, the guideline value of Bhavani Nagar has experienced several revisions. The earliest recorded figure is from 2007, when the value was Rs 50 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 167 per sq.ft, reflecting a 33% drop. The value then rose again to Rs 250 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 50%. The current guideline value of Rs 250 per sq.ft in 2024 is the same as the previous year, indicating a stable rate. It is worth noting that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Siru Mathoor

Siru Mathoor village has a total of 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Bhavani Nagar is below this median.

• Ciril Castal: Rs 2,250 per sq.ft (2024)
• Coconut Forms: Rs 600 per sq.ft (2024)
• Bajanai koil street: Rs 600 per sq.ft (2024)
• C.S.Sai Nagar Padappai: Rs 600 per sq.ft (2024)
• Docla Project: Rs 1,810 per sq.ft (2024)
• EVP Antiha Nagar: Rs 600 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 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 Siru Mathoor

The guideline value is a crucial factor in property transactions in Siru Mathoor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the current guideline value to ensure compliance with local regulations. The guideline value serves as a benchmark for both buyers and sellers, influencing the overall transaction process.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Bhavani Nagar?

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

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 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 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value is Rs 2,50,000, resulting in a stamp duty of Rs 17,500.