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 Tharavoor 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 earliest recorded figure was Rs 100 per sq.ft in 2007. This increased significantly to Rs 400 per sq.ft in 2012, and then decreased to Rs 268 per sq.ft in 2017. The value remained unchanged at Rs 400 per sq.ft during the 2023 revision and continues at this rate in 2024. Notably, there are no figures recorded for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it saw a decrease of 33%. The substantial increase of 300% from 2007 to 2012 highlights the fluctuations in the guideline value over the years. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Tharavoor

In Tharavoor village, there are six streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 250 to Rs 400 per sq.ft. Bhavani Nagar's 2024 figure of Rs 400 per sq.ft is equal to the median value of Rs 400 per sq.ft for the area.

• Chelliamman Nagar: Rs 400 per sq.ft (2024)
• Gurusakthi Nagar: Rs 400 per sq.ft (2024)
• Orient Nagar: Rs 250 per sq.ft (2024)
• Ranjitham Nagar: Rs 400 per sq.ft (2024)
• Velankanni Nagar: Rs 250 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 charged at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tharavoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price to determine the applicable fees. The higher of the two values is used to calculate stamp duty and registration fees, ensuring that all parties are aware of the financial implications of the transaction.

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 changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, decreased to Rs 268 per sq.ft in 2017, and remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification for Bhavani Nagar?

Bhavani Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find information about stamp duty and registration fees?

You can find information about stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles property registrations in Bhavani Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Bhavani Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.