Guideline Value for Bhavani Street

Bhavani Street guideline value

The current guideline value of Bhavani Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Bhavani Street has changed

The guideline value for Bhavani Street has seen several revisions over the years. In 2002, the value was Rs 282 per sq.ft, which increased to Rs 322 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, an increase of 180%. By 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial increase of 289% from 2007. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017.

In the subsequent revision in 2023, the guideline value increased to Rs 3,500 per sq.ft, a 49% rise from the 2017 figure. The latest revision in 2024 has set the value at Rs 3,900 per sq.ft, which is an 11% increase from 2023. The register has no figure for the years not mentioned in the revisions.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Bhavani Street.

• Bhuvaneshwari Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar Extension: Rs 3,900 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavani Street?

The Sub Registrar Office that covers Bhavani Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. 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 against the sale price. The higher value is used to calculate the stamp duty and registration fees, ensuring that the correct amounts are collected based on the established guidelines.

Frequently asked questions

What is the current guideline value of Bhavani Street?

The current guideline value of Bhavani Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1283% over this period.

What is the land classification for Bhavani Street?

Bhavani Street is classified as Residential Class I Type - III under the Alandur SRO.

What are the other streets in Adambakkam with their guideline values?

Other streets in Adambakkam include Bhuvaneshwari Nagar 1st Street at Rs 4,400 per sq.ft, Bhuvaneshwari Nagar 2nd Street at Rs 4,400 per sq.ft, and several others at Rs 3,900 per sq.ft.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.