Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar, located in Padiyanallur village under the Redhills SRO, is Rs 770 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Bhavani Nagar has changed

Over the years, the guideline value for Bhavani Nagar has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 400 per sq.ft. This value increased to Rs 700 per sq.ft in 2012, marking a 75% increase. However, it then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The value then rose significantly to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the increase was 49%, and overall, from 2007 to 2024, the guideline value has increased by 93%. The current figure of Rs 770 per sq.ft aligns with the median value of Rs 770 per sq.ft for 132 streets in Padiyanallur as per the 2024 revision.

Guideline values in Padiyanallur

In Padiyanallur, the guideline values for various streets range from Rs 385 to Rs 2,750 per sq.ft, with the median being Rs 770 per sq.ft. Bhavani Nagar's guideline value for 2024 matches this median.

• Bhavani Amman Koil Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Bharat Nagar Extn.: Rs 660 per sq.ft (2024)
• Bharath Nagar: Rs 770 per sq.ft (2024)
• Bharathi Nagar: Rs 770 per sq.ft (2024)
• Bharathidasan Street: Rs 770 per sq.ft (2024)
• Bharathiar Street (Bhavani Nagar): Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the sale, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting a total increase of 93% over the years.

What are the other streets in Padiyanallur with similar guideline values?

Several other streets in Padiyanallur have a guideline value of Rs 770 per sq.ft, including Bhavani Amman Koil Street, Bharath Nagar, Bharathi Nagar, Bharathidasan Street, and Bharathiar Street.

What fees are associated with buying property in Bhavani Nagar?

When buying property in Bhavani Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Bhavani Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.