Guideline Value for SRI BHAVANI NGAR

Sri Bhavani Ngar guideline value

The current guideline value of Sri Bhavani Ngar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kovilancheri village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Sri Bhavani Ngar has changed

In the 2017 revision, the guideline value was Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The consistent upward adjustments indicate a significant change in the valuation of properties in this area over the years.

Guideline values in Kovilancheri

In Kovilancheri, there are 13 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,130 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Sri Bhavani Ngar's 2024 figure below this median.

• Sri Bhavani Nagar Extn: Rs 2,750 per sq.ft (2024)
• Sri Rajeswari Avenue: Rs 1,100 per sq.ft (2024)
• Sriram Nagar: Rs 1,650 per sq.ft (2024)
• Rakeshsharma Nagar: Rs 1,100 per sq.ft (2024)
• Elite Crystal Gate: Rs 2,750 per sq.ft (2024)
• El Castillo: Rs 4,110 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhavani Ngar

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. Please note that the 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 Ngar?

The Sub Registrar Office that covers Sri Bhavani Ngar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is in accordance with the legal requirements. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Bhavani Ngar?

The current guideline value of Sri Bhavani Ngar 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 significantly from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets in Kovilancheri with their guideline values?

Other streets in Kovilancheri include Sri Bhavani Nagar Extn at Rs 2,750 per sq.ft, Sri Rajeswari Avenue at Rs 1,100 per sq.ft, and Sriram Nagar at Rs 1,650 per sq.ft, among others.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Sri Bhavani Ngar?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Sri Bhavani Ngar, located at No.26, Mes Road, East Tambaram, Chennai-600059.