Guideline Value for sri Bhavani nagar

sri Bhavani nagar guideline value

The current guideline value of sri Bhavani nagar is Rs 900 per sq.ft, as per the 2023 revision. This area falls under Rathinamangalam village and is classified as Residential Special Type - I. The relevant Sub Registrar Office for this locality is Gooduvancheri SRO.

How the guideline value of sri Bhavani nagar has changed

Over the years, the guideline value of sri Bhavani nagar has experienced several changes. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the guideline value increased to Rs 900 per sq.ft, resulting in a significant rise of 49% from the 2017 figure.

Overall, comparing the 2012 and 2023 revisions shows that the guideline value has remained the same, with no net change over this period. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Rathinamangalam

Currently, there are no specific village figures available for Rathinamangalam. The guideline value for sri Bhavani nagar is Rs 900 per sq.ft. Unfortunately, there are no other streets in Rathinamangalam listed under the Gooduvancheri SRO.

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 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees together to Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers sri Bhavani nagar?

The Sub Registrar Office that covers sri Bhavani nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

When buying or selling property in Rathinamangalam, the guideline value plays a crucial role in determining the amount of stamp duty and registration fees that need to be paid. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that they are reflective of the property's value in the area.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The registration process requires payment of these fees based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the public register.

Frequently asked questions

What is the current guideline value of sri Bhavani nagar?

The current guideline value of sri Bhavani nagar is Rs 900 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

From the 2012 revision of Rs 900 per sq.ft, the value dropped to Rs 603 per sq.ft in 2017. It then increased back to Rs 900 per sq.ft in the 2023 revision, resulting in a 49% increase from 2017.

What is the stamp duty for property in sri Bhavani nagar?

The stamp duty for property in sri Bhavani nagar is charged at 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 9,00,000, the stamp duty would be Rs 63,000.

Which office handles registrations for sri Bhavani nagar?

The Gooduvancheri Sub Registrar Office handles registrations for sri Bhavani nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there a registration fee for property transactions?

Yes, there is a registration fee of 2% on the guideline value or sale price, whichever is higher. For a property valued at Rs 9,00,000, the registration fee would amount to Rs 18,000.