Guideline Value for BAJANAI KOIL STREET (KORATTUR) (KACHINAKUPPAM)

Bajanai Koil Street (Korattur) (Kachinakuppam) guideline value

The current guideline value of Bajanai Koil Street (Korattur) (Kachinakuppam) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Bajanai Koil Street (Korattur) (Kachinakuppam) has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure remained unchanged in the 2023 revision, where it continued to be Rs 2,300 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which is equal to the current guideline value of Bajanai Koil Street (Korattur).

• Bajanai Koil Street (Korattur): Rs 2,500 per sq.ft (2024)
• Bajanai Koil Street (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Bajanai Koil Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Balaji Nagar Extension (Near Railway Track): Rs 2,700 per sq.ft (2024)
• Balaji Nagar Mullai Street: Rs 2,700 per sq.ft (2024)
• Balaji Nagar (Near Railway Track): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street (Korattur) (Kachinakuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, together totaling Rs 2,25,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bajanai Koil Street (Korattur) (Kachinakuppam)?

Bajanai Koil Street (Korattur) (Kachinakuppam) falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration of property transactions in Korattur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and fairness in property transactions, as it is based on the official register maintained by the Registration Department.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street (Korattur)?

The current guideline value of Bajanai Koil Street (Korattur) (Kachinakuppam) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 9% increase from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024. It remained unchanged at Rs 2,300 per sq.ft from 2012 to 2023.

What is the land classification of Bajanai Koil Street (Korattur)?

Bajanai Koil Street (Korattur) is classified as Residential Class II Type - III. This classification indicates the type of development permissible in the area.

Which Sub Registrar Office covers Bajanai Koil Street (Korattur)?

The Villivakkam Sub Registrar Office covers Bajanai Koil Street (Korattur) (Kachinakuppam). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Bajanai Koil Street (Korattur)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000, leading to a stamp duty of Rs 1,75,000.