Guideline Value for SRI BAVANI AMMAN NAGAR

Sri Bavani Amman Nagar guideline value

The current guideline value of Sri Bavani Amman Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Gunippalaiyam village and falls under the Oothukkottai SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Bavani Amman Nagar has changed

The guideline value for Sri Bavani Amman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 75 per sq.ft, which then increased to Rs 50 per sq.ft in 2017. Following this, the value rose to Rs 100 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 100%. The value remained unchanged from 2023 to 2024, resulting in an overall increase of 33% from 2012 to 2024.

Guideline values in Gunippalaiyam

In Gunippalaiyam, there are 11 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Sri Bavani Amman Nagar's 2024 figure matches this median.

• Sri Muthu Nagar: Rs 100 per sq.ft (2024)
• Sri Valampuri Nagar: Rs 100 per sq.ft (2024)
• Valampuri Nagar: Rs 100 per sq.ft (2024)
• V.R.G. Nagar: Rs 100 per sq.ft (2024)
• Mothinagar Annex: Rs 100 per sq.ft (2024)
• Mothi Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bavani Amman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Bavani Amman Nagar?

The Sri Bavani Amman Nagar area is covered by the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai, 602026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Gunippalaiyam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall costs involved in property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in understanding the financial implications of property dealings.

Frequently asked questions

What is the current guideline value of Sri Bavani Amman Nagar?

The current guideline value of Sri Bavani Amman Nagar is Rs 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 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in both 2023 and 2024.

What is the registration office for Sri Bavani Amman Nagar?

The registration office for Sri Bavani Amman Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai, 602026.

How is stamp duty calculated for properties in Sri Bavani Amman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.

Are there other streets in Gunippalaiyam with the same guideline value?

Yes, there are several other streets in Gunippalaiyam that also have a guideline value of Rs 100 per sq.ft for 2024, including Sri Muthu Nagar, Sri Valampuri Nagar, and V.R.G. Nagar, among others.