Guideline Value for Bhavani Street

Bhavani Street guideline value

The current guideline value of Bhavani Street in S. Kullathur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Bhavani Street has changed

The guideline value for Bhavani Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 60 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2007, marking a 1,400% rise. The value then rose to Rs 2,300 per sq.ft in 2012, which was an increase of 156%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, reflecting a decline of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, a 30% rise, and finally reached Rs 2,530 per sq.ft in 2024, which is a 27% increase.

It is important to note that there is no figure available for Bhavani Street in the 2002 revision. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 4,117%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which means that Bhavani Street's 2024 guideline value is below the median.

• Bharath Madha 2nd Street: Rs 2,750 per sq.ft (2024)
• Chinnapa Nagar: Rs 2,750 per sq.ft (2024)
• Chinnappa Nagar 1 And 2 Streets: Rs 2,750 per sq.ft (2024)
• Bakiyalakshmi Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 2,530 per sq.ft (2024)
• Devi Karumariamman Nagar 1 & 2 Main Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Street?

The Sub Registrar Office that covers Bhavani Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor when registering a property in S. Kullathur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the duty is calculated based on the sale price instead. This ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Bhavani Street?

The current guideline value of Bhavani Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2003 revision, the guideline value has increased from Rs 60 per sq.ft to Rs 2,530 per sq.ft in 2024, which is an overall increase of 4,117%.

What are the guideline values of other streets in S. Kullathur?

Other streets in S. Kullathur have guideline values ranging from Rs 1,320 to Rs 4,400 per sq.ft, with a median value of Rs 2,750 per sq.ft.

How is stamp duty calculated for properties in Bhavani Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100.

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

The Sub Registrar Office for Bhavani Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information online.