Guideline Value for Bhavani Nagar

Bhavani Nagar guideline value

The current guideline value of Bhavani Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Bhavani Nagar has changed

The guideline value of Bhavani Nagar has undergone several revisions over the years. Starting from Rs 337 per sq.ft in 2002, it increased to Rs 366 per sq.ft in 2003, marking a rise of 9%. By 2007, the value surged to Rs 900 per sq.ft, reflecting a significant increase of 146%. The value then jumped to Rs 4,500 per sq.ft in 2012, a remarkable rise of 400%. However, it decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, an increase of 63% from the previous figure.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1354%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making Bhavani Nagar's 2024 figure above the median.

• Bharath Rajiv Gandhi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 3rd Street: Rs 3,300 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 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and 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 covering Bhavani Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bhavani Nagar?

The current guideline value of Bhavani Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 337 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 1354% over the years.

What is the land classification of Bhavani Nagar?

Bhavani Nagar is classified as Mixed Type - I, which indicates the type of land use permitted in the area.

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

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in Bhavani Nagar.