Guideline Value for SRI BHAVANI AMMAN NAGAR

Sri Bhavani Amman Nagar guideline value

The current guideline value of Sri Bhavani Amman Nagar is Rs 154 per sq.ft, effective from 1 July 2024. This area is located in Eagattur village and falls under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Bhavani Amman Nagar has changed

The guideline value for Sri Bhavani Amman Nagar has undergone several revisions over the years. The 2012 revision recorded a value of Rs 150 per sq.ft, which decreased to Rs 100 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly by 50% to reach Rs 150 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 154 per sq.ft, reflecting a 3% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 3%.

Guideline values in Eagattur

In Eagattur, there are 31 streets under the Manavalanagar SRO, with guideline values for 2024 ranging from Rs 100 to Rs 330 per sq.ft. The median value for these streets is Rs 190 per sq.ft, indicating that the guideline value for Sri Bhavani Amman Nagar is below this median.

• Sri Ganapathypuram: Rs 200 per sq.ft (2024)
• Sri Ganapathypuram Phase I: Rs 154 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 170 per sq.ft (2024)
• Sri Radhakrishna Nagar: Rs 154 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 154 per sq.ft (2024)
• Thirumalai Nagar: Rs 190 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,54,000. The stamp duty, calculated at 7%, would be Rs 10,780, while the registration fee at 2% would be Rs 3,080, bringing the total to Rs 13,860. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Bhavani Amman Nagar?

The Sub Registrar Office that covers Sri Bhavani Amman Nagar is the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eagattur. It determines the baseline for calculating stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the guideline value is used to assess the applicable taxes, ensuring that both buyers and sellers are aware of the financial obligations involved. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of Sri Bhavani Amman Nagar is Rs 154 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 150 per sq.ft in 2023, and finally to Rs 154 per sq.ft in 2024.

What is the land classification for Sri Bhavani Amman Nagar?

Sri Bhavani Amman Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Sri Bhavani Amman Nagar?

The Sub Registrar Office for Sri Bhavani Amman Nagar is located at Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

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

Stamp duty for properties in Sri Bhavani Amman Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.