Guideline Value for BAJANAI KOIL 4TH STREET

Bajanai Koil 4th Street guideline value

The current guideline value of Bajanai Koil 4th 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 4th Street has changed

Over the years, the guideline value of Bajanai Koil 4th Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant increase of 49% from the 2017 figure. The most recent revision in 2024 has raised the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values 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, placing Bajanai Koil 4th Street's 2024 figure below that median.

• Bajanai Koil 3rd Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 1st 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 4th 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 cost for these fees to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil 4th Street?

The Sub Registrar Office that covers Bajanai Koil 4th 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, Chennai 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 Manapakkam

The guideline value is a crucial factor during the registration of property transactions in Manapakkam. It serves as the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware that the guideline value may differ from the actual sale price. The registration fees and stamp duty are calculated based on the higher of these two values, which means that buyers should consider the guideline value when planning their transactions.

Frequently asked questions

What is the current guideline value of Bajanai Koil 4th Street?

The current guideline value of Bajanai Koil 4th 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, marking a 10% increase. The value was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Bajanai Koil 4th Street?

Bajanai Koil 4th Street is classified as Residential Class IV Type - I, indicating its designated use for residential purposes.

Where can I find the registration office for Bajanai Koil 4th Street?

The registration office for Bajanai Koil 4th 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 Bajanai Koil 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000, along with a registration fee at 2% amounting to Rs 44,000.