Guideline Value for Bhavanipuram

Bhavanipuram guideline value

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

How the guideline value of Bhavanipuram has changed

The guideline value for Bhavanipuram has seen several revisions over the years. In 2002, the guideline value was Rs 77 per sq.ft, which 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 an increase of +266%. However, it dropped to Rs 804 per sq.ft in 2017, a decrease of -33%. The guideline value remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figure for this street for the year 2003.

Overall, from 2002 to 2024, the guideline value has increased by +1458%, showcasing a substantial rise over the years. The most significant jump occurred between 2017 and 2023, where the value increased by +49% from Rs 804 per sq.ft to Rs 1,200 per sq.ft.

Guideline values in Nandhivaram

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

• Bhavanipuram Extn.: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavanipuram?

The Sub Registrar Office that covers Bhavanipuram 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 details.

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

The guideline value plays a crucial role in property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is registered, the guideline value is used as a basis for calculating the fees. This means that the higher value between the guideline value and the sale price will be considered for the calculation of stamp duty, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Bhavanipuram?

The current guideline value of Bhavanipuram 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 several times, with the most significant increase occurring from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, a rise of +49%. The overall increase from 2002 to 2024 is +1458%.

What is the land classification for Bhavanipuram?

Bhavanipuram falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Bhavanipuram?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the registration for Bhavanipuram?

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