Guideline Value for karikalvalavan Street (Bhavani Nagar)

karikalvalavan Street (Bhavani Nagar) guideline value

The current guideline value of karikalvalavan Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village under the Redhills SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of karikalvalavan Street (Bhavani Nagar) has changed

The guideline value for karikalvalavan Street (Bhavani Nagar) has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. The value rose significantly to Rs 700 per sq.ft in 2023, and then further increased to the current rate of Rs 770 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the value increased by 49%, while the jump from 2007 to 2012 saw a decrease of 33%. The overall increase from 2007 to 2024 is 93%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Padiyanallur

Padiyanallur has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value of karikalvalavan Street (Bhavani Nagar).

• Karikalan Nagar: Rs 1,320 per sq.ft (2024)
• Kanniamman Koil Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Kannagi Street: Rs 1,320 per sq.ft (2024)
• Kannadasan Street: Rs 770 per sq.ft (2024)
• Kattabomman Street: Rs 770 per sq.ft (2024)
• Kambar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in karikalvalavan Street (Bhavani Nagar)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total Rs 69,300. It is essential to note that 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 information.

Which Sub Registrar Office covers karikalvalavan Street (Bhavani Nagar)?

The Sub Registrar Office covering karikalvalavan Street (Bhavani Nagar) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Padiyanallur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When registering a property, the guideline value serves as a baseline for calculating the applicable fees, which are mandatory for the legal transfer of property ownership. It is advisable to check the latest guideline values to ensure accurate calculations and avoid any discrepancies.

Frequently asked questions

What is the current guideline value of karikalvalavan Street (Bhavani Nagar)?

The current guideline value of karikalvalavan Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, showing an overall increase of 93% over the years.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, which is the same as the current value for karikalvalavan Street (Bhavani Nagar).

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for properties in this area?

The Redhills Sub Registrar Office handles registrations for properties in karikalvalavan Street (Bhavani Nagar), located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.