Guideline Value for Bhavanipuram

Bhavanipuram guideline value

The current guideline value of Bhavanipuram, located in Kayirambedu village, is Rs 700 per sq.ft, effective from 1 July 2024. This falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Bhavanipuram has changed

Over the years, the guideline value of Bhavanipuram has seen several revisions. The 2007 revision set the value at Rs 215 per sq.ft, which then increased significantly to Rs 700 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 469 per sq.ft, before rising again to Rs 700 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while the overall change from 2007 to 2024 is a remarkable 226%. The guideline value has remained stable at Rs 700 per sq.ft since the 2023 revision, indicating no change in the most recent update.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO, with values ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value is Rs 700 per sq.ft, making Bhavanipuram's 2024 figure equal to this median.

• Blue Bell Avenue: Rs 1,500 per sq.ft (2024)
• Bridhavan Avenue: Rs 700 per sq.ft (2024)
• Chozha Nagar: Rs 700 per sq.ft (2024)
• Crystal Paradise Phase - II: Rs 2,389 per sq.ft (2024)
• Baby Nagar: Rs 700 per sq.ft (2024)
• Avvai Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavanipuram

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total Rs 63,000. Please note that the 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 Bhavanipuram?

Bhavanipuram falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kayirambedu

The guideline value is an essential factor in property transactions in Kayirambedu, as it determines the minimum value at which properties can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly in the official register. It is crucial for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Bhavanipuram?

The current guideline value of Bhavanipuram is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with significant increases and decreases. The overall change from 2007 to 2024 is a rise of 226%.

What is the land classification for Bhavanipuram?

Bhavanipuram is classified as Residential Special Type - II, indicating its designation for residential development.

What are the registration fees for property in Bhavanipuram?

The registration fees are calculated based on the guideline value. For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000 and the registration fee is Rs 14,000, totaling Rs 63,000.

Where is the Sub Registrar Office for Bhavanipuram located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.