Guideline Value for BAJANAI KOIL 1ST STREET

Bajanai Koil 1st Street guideline value

The current guideline value of Bajanai Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bajanai Koil 1st Street has changed

The guideline value for Bajanai Koil 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft. The changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing the 2024 guideline value of Bajanai Koil 1st Street below this median.

• Bajanai Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 3rd Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 4th Street: Rs 2,200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 2,200 per sq.ft (2024)
• A V Garden: Rs 5,590 per sq.ft (2024)
• Astalakshmi Avenue 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil 1st Street?

The Sub Registrar Office that covers Bajanai Koil 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an important factor when registering property in Manapakkam. It serves as a reference point for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the sale process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bajanai Koil 1st Street?

The current guideline value of Bajanai Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023 and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Bajanai Koil 1st Street?

The Chennai South Joint I Sub Registrar Office is responsible for Bajanai Koil 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Bajanai Koil 1st Street?

Bajanai Koil 1st Street is classified as Residential Class IV Type - I.