Guideline Value for BAJANAI KOIL 2ND STREET

Bajanai Koil 2nd Street guideline value

The current guideline value of Bajanai Koil 2nd 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 2nd Street has changed

The guideline value for Bajanai Koil 2nd Street has seen several revisions over the years. The earliest available revision is from 2012, where the value was Rs 2,000 per sq.ft. In 2017, this figure decreased to Rs 1,340 per sq.ft, marking a decline of 33%. However, by 2023, the value increased significantly to Rs 2,000 per sq.ft, and in the latest revision for 2024, it rose again to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are a total of 368 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which means Bajanai Koil 2nd Street's 2024 figure is below that median.

• Bajanai Koil 3rd Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Bajanai Koil 2nd Street?

The Sub Registrar Office that covers Bajanai Koil 2nd 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 a crucial factor when buying or selling property in Manapakkam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Bajanai Koil 2nd 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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bajanai Koil 2nd Street?

Bajanai Koil 2nd Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Bajanai Koil 2nd Street?

The Sub Registrar Office for Bajanai Koil 2nd 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.

How is stamp duty calculated for properties in Manapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be calculated at 7% of this amount.