Guideline Value for BAJANAI KOIL STREET (KORATTUR)

Bajanai Koil Street (Korattur) guideline value

The current guideline value of Bajanai Koil Street (Korattur) 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) has changed

Over the years, the guideline value of Bajanai Koil Street (Korattur) has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 250 per sq.ft. This figure increased dramatically to Rs 2,300 per sq.ft in 2012, marking an increase of 820%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a decline of 33%. The value then rose to Rs 2,300 per sq.ft in 2023, representing a 49% increase. Currently, with the 2024 revision, the guideline value stands at Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

The register has no figure for Bajanai Koil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 900%.

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, with the median being Rs 2,500 per sq.ft. Bajanai Koil Street (Korattur) is aligned with this median value.

• Bajanai Koil Street (Korattur) (Kachinakuppam): 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)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together to Rs 2,25,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Bajanai Koil Street (Korattur) is 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 factor during the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is important to note that the final registration fee is based on the higher of the guideline value or the sale price, ensuring compliance with legal requirements.

Frequently asked questions

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

The current guideline value of Bajanai Koil Street (Korattur) 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 changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, showing an overall increase of 900% over the years.

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

Bajanai Koil Street (Korattur) is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000.