Guideline Value for Bhavapet Back Street

Bhavapet Back Street guideline value

The current guideline value of Bhavapet Back Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO, classified as Residential Class II Type - II.

How the guideline value of Bhavapet Back Street has changed

The guideline value for Bhavapet Back Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,100 per sq.ft.

Examining the changes between revisions, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Bhavapet Back Street's 2024 figure below that median.

• Bhavapet Street: Rs 1,100 per sq.ft (2024)
• Bus Stand: Rs 5,500 per sq.ft (2024)
• Chairman A.K.Thangavel Street: Rs 880 per sq.ft (2024)
• Bangarau Aasappan Street: Rs 1,100 per sq.ft (2024)
• Bakrapet Thumbavanam: Rs 1,100 per sq.ft (2024)
• Bakrapet Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavapet Back Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavapet Back Street?

The Kanchipuram Joint IV Sub Registrar Office covers Bhavapet Back Street. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

When buying or selling property in the 2nd Division, the guideline value is crucial for determining the stamp duty and registration fees. These fees are calculated based on the guideline value, which serves as a benchmark for property transactions.

At the time of registration, the guideline value ensures that both the buyer and seller adhere to a standardized valuation, preventing discrepancies in property pricing. This process helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Bhavapet Back Street?

The current guideline value of Bhavapet Back Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty rates for property in Bhavapet Back Street?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.

Where is the Kanchipuram Joint IV SRO located?

The Kanchipuram Joint IV Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How many streets are there in 2nd Division with a guideline value?

There are 101 streets in the 2nd Division under the Kanchipuram Joint IV SRO that have a guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft.