Guideline Value for BAJANAI KOIL 2ND CROSS STREET

Bajanai Koil 2nd Cross Street guideline value

The current guideline value of Bajanai Koil 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Bajanai Koil 2nd Cross Street has changed

Over the years, the guideline value for Bajanai Koil 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. The value remained at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,000 per sq.ft. The latest 2024 revision has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Bajanai Koil 2nd Cross Street.

• Bajanai Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Babu Nagar Neela Nagar Annex Salai: Rs 2,750 per sq.ft (2024)
• Babu Nagar 4th Main Road: Rs 2,750 per sq.ft (2024)
• Babu Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil 2nd Cross Street?

The Sub Registrar Office that covers Bajanai Koil 2nd Cross 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 Medavakkam

The guideline value is a crucial factor in property transactions in Medavakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bajanai Koil 2nd Cross Street?

The current guideline value of Bajanai Koil 2nd Cross 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 2023 to Rs 2,200 per sq.ft in 2024, which is a 10% increase. The value was Rs 1,340 per sq.ft in 2017, showing a 49% increase over the following years.

What is the land classification of Bajanai Koil 2nd Cross Street?

Bajanai Koil 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Bajanai Koil 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles registrations for properties in Medavakkam?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for properties in Medavakkam, including Bajanai Koil 2nd Cross Street.