Guideline Value for Bhavya Avenue

Bhavya Avenue guideline value

The current guideline value of Bhavya Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Kathirvedu village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bhavya Avenue has changed

The guideline value for Bhavya Avenue has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a 180% rise. However, it then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,400 per sq.ft in 2023, and most recently, it has risen to Rs 1,500 per sq.ft in the 2024 revision, which is a 7% increase.

There are no figures available for the years 2002 and 2003 in the register for Bhavya Avenue. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,500 per sq.ft, which is equal to the 2024 figure for Bhavya Avenue.

• Birla Avenue (Anbu Estate): Rs 1,500 per sq.ft (2024)
• Birla Avenue Annex (Anbu Estate): Rs 1,500 per sq.ft (2024)
• Birla Avenue Extension (Anbu Estate): Rs 1,500 per sq.ft (2024)
• Bharathiyar Street: Rs 1,300 per sq.ft (2024)
• Brittania Nagar: Rs 1,400 per sq.ft (2024)
• Cannan Habitat: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavya Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavya Avenue?

The Sub Registrar Office that covers Bhavya Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhavya Avenue?

The current guideline value of Bhavya Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 200% during this period.

What is the median guideline value in Kathirvedu?

The median guideline value in Kathirvedu is Rs 1,500 per sq.ft, which is the same as the current value for Bhavya Avenue.

How is stamp duty calculated for properties in Bhavya Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.

Which office handles property registrations for Bhavya Avenue?

The Ambattur Sub Registrar Office handles property registrations for Bhavya Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.