Guideline Value for Bhavani Street

Bhavani Street guideline value

The current guideline value of Bhavani Street in Malaipattu village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Bhavani Street has changed

The guideline value for Bhavani Street has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 150 per sq.ft. The 2017 revision marked a decrease to Rs 100 per sq.ft, reflecting a -33% change from the previous value. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 150 per sq.ft.

From 2017 to 2023, the value increased by 50%, returning to Rs 150 per sq.ft. The most recent revision in 2024 maintained this value, showing no percentage change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malaipattu

Malaipattu village has a range of guideline values across its 36 streets under the Sunguvarchattram SRO, with values varying from Rs 150 to Rs 1,181 per sq.ft. The median value is Rs 200 per sq.ft, indicating that Bhavani Street's 2024 figure is below this median.

• Bharathidhasan Street: Rs 150 per sq.ft (2024)
• Chakravarthy Avenue: Rs 441 per sq.ft (2024)
• Arunthava Nagar: Rs 200 per sq.ft (2024)
• Anna Street: Rs 150 per sq.ft (2024)
• Anna Nagar: Rs 200 per sq.ft (2024)
• Farm Scapes Layout: Rs 200 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000, making the total cost for these fees Rs 13,500. It is important to note that 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 Street?

The Sub Registrar Office that covers Bhavani Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Malaipattu. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the legal obligations for both parties. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhavani Street?

The current guideline value of Bhavani Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, and then returning to Rs 150 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Malaipattu?

Other streets in Malaipattu have varying guideline values, ranging from Rs 150 to Rs 1,181 per sq.ft, with a median value of Rs 200 per sq.ft.

What are the stamp duty and registration fees for property in Bhavani Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 13,500.

Which Sub Registrar Office covers Bhavani Street?

The Sunguvarchattram Sub Registrar Office covers Bhavani Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.