Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Bhavani Nagar has changed

The guideline value of Bhavani Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and most recently, it has been revised to Rs 1,300 per sq.ft in 2024, marking an increase of 8% from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Bhavani Nagar is below this median.

• Bhavani Amman Koil St (Ward-07): Rs 1,300 per sq.ft (2024)
• Bhavani Amman Koil Street (Ward-9): Rs 1,300 per sq.ft (2024)
• Bhavani Nagar 1st Street (Ward-01): Rs 1,300 per sq.ft (2024)
• Bhavani Nagar 2nd Street (Ward-01): Rs 1,300 per sq.ft (2024)
• Bhavani Nagar Extension: Rs 3,800 per sq.ft (2024)
• Bhavani Nagar, Lakshmipuram (Ward-26): Rs 1,600 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Nagar?

The Sub Registrar Office that covers Bhavani Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Madhavaram. When you buy or sell property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are based on a standardized value set by the authorities.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the property transaction. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Bhavani Nagar?

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

What are the stamp duty rates applicable in Bhavani Nagar?

The stamp duty rate in Bhavani Nagar is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bhavani Nagar located?

The Madhavaram Sub Registrar Office, which covers Bhavani Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.