Guideline Value for SRI BHAVANI NAGAR

Sri Bhavani Nagar guideline value

The current guideline value of Sri Bhavani Nagar, located in Vannipakkam village under the Ponneri SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Bhavani Nagar has changed

Over the years, the guideline value for Sri Bhavani Nagar has seen various revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 134 per sq.ft. Following this, the 2023 revision brought it back to Rs 200 per sq.ft, and the latest 2024 revision maintains this value, showing no percentage change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been no change in the guideline value, remaining at Rs 200 per sq.ft.

Guideline values in Vannipakkam

In Vannipakkam, there are seven streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 250 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Bhavani Nagar's guideline value is equal to this median.

• Sri Mugambigai Nagar: Rs 200 per sq.ft (2024)
• Srinivasapuram: Rs 200 per sq.ft (2024)
• M.N.Garden Phase II: Rs 250 per sq.ft (2024)
• M.N.Garden Phase I: Rs 250 per sq.ft (2024)
• M.G.M. Nagar: Rs 200 per sq.ft (2024)
• Mallikai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhavani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total fees Rs 18,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Sri Bhavani Nagar?

Sri Bhavani Nagar is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Vannipakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Sri Bhavani Nagar?

The current guideline value of Sri Bhavani Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and remains at Rs 200 per sq.ft in 2024. There are no figures for the years 2002, 2003, and 2007.

What is the land classification of Sri Bhavani Nagar?

Sri Bhavani Nagar falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Bhavani Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Bhavani Nagar located?

The Ponneri Sub Registrar Office, which covers Sri Bhavani Nagar, is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.