Guideline Value for Bhavaniamman Koil 2nd Street

Bhavaniamman Koil 2nd Street guideline value

The current guideline value of Bhavaniamman Koil 2nd Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Bhavaniamman Koil 2nd Street has changed

The guideline value for Bhavaniamman Koil 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 938 per sq.ft. The 2023 revision increased the value to Rs 1,400 per sq.ft, and the latest revision in 2024 raised it to Rs 1,550 per sq.ft, marking an increase of 11% from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 11%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 1,550 per sq.ft, which is equal to the current guideline value for Bhavaniamman Koil 2nd Street.

• Bhavaniamman Koil 2nd Cross Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 3rd Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 1st Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 1st Cross Street: Rs 1,550 per sq.ft (2024)
• Bazaar Street /Lane: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavaniamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bhavaniamman Koil 2nd Street?

The Sub Registrar Office that covers Bhavaniamman Koil 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Thirunageswaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bhavaniamman Koil 2nd Street?

The current guideline value of Bhavaniamman Koil 2nd Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024, an increase of 11%. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification for Bhavaniamman Koil 2nd Street?

The land classification for Bhavaniamman Koil 2nd Street is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Bhavaniamman Koil 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 15,50,000 would incur a stamp duty of Rs 1,08,500 at 7%.