Guideline Value for Bhavanipuram Extn.

Bhavanipuram Extn. guideline value

The current guideline value of Bhavanipuram Extn. is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Bhavanipuram Extn. has changed

The guideline value for Bhavanipuram Extn. has undergone several revisions over the years. In 2002, the guideline value was Rs 77 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a change of +326%. The value then rose to Rs 1,200 per sq.ft in 2012, reflecting a substantial increase of +266%. However, between 2012 and 2017, the value decreased to Rs 804 per sq.ft, a drop of -33%. Following this, the value saw a significant increase to Rs 1,200 per sq.ft in 2023, and it remained unchanged at Rs 1,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by +1,458%. The register has no figure for this street in 2003.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median of Rs 1,500 per sq.ft. The guideline value for Bhavanipuram Extn. is below this median.

• Bhavanipuram: Rs 1,200 per sq.ft (2024)
• Big Street: Rs 1,200 per sq.ft (2024)
• Brahmin Street: Rs 1,200 per sq.ft (2024)
• Bharath Avenue: Rs 1,200 per sq.ft (2024)
• Balasubramaniyam Nagar: Rs 1,500 per sq.ft (2024)
• Chinnappan Avenue (Near by G.S.T Road): Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavanipuram Extn.

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavanipuram Extn.?

The Sub Registrar Office that covers Bhavanipuram Extn. is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhivaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhavanipuram Extn.?

The current guideline value of Bhavanipuram Extn. is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 77 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of +1,458%.

What are the other streets in Nandhivaram with similar guideline values?

Other streets in Nandhivaram with the same guideline value of Rs 1,200 per sq.ft in 2024 include Big Street, Brahmin Street, and Bharath Avenue.

What fees are associated with buying property in Bhavanipuram Extn.?

When buying property in Bhavanipuram Extn., buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bhavanipuram Extn.?

The Sub Registrar Office for Bhavanipuram Extn. is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.