Guideline Value for BAJANAI KOIL STREET (MADHANAKUPPAM)

Bajanai Koil Street (Madhanakuppam) guideline value

The current guideline value of Bajanai Koil Street (Madhanakuppam) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO, classified as Residential Class IV Type - I.

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

The guideline value for Bajanai Koil Street (Madhanakuppam) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision, which was Rs 1,200 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 1,200 per sq.ft, showing no change from the previous year. The 2007 revision marked a significant increase to Rs 250 per sq.ft from earlier values.

It is important to note that the register has no figure for Bajanai Koil Street for the years 2017, 2003, and 2002. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 420%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which means Bajanai Koil Street (Madhanakuppam) is currently below that median.

• Bajanai Koil Street (Korattur) (Kachinakuppam): Rs 2,500 per sq.ft (2024)
• Bajanai Koil Street (Korattur): Rs 2,500 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 (Madhanakuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. Please note that 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 details.

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

The Sub Registrar Office that covers Bajanai Koil Street (Madhanakuppam) 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 plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a reference point for calculating stamp duty and registration fees, which are necessary for legal documentation and transfer of ownership.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the government collects the appropriate revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of Bajanai Koil Street (Madhanakuppam) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 420% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers this street?

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

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

Bajanai Koil Street (Madhanakuppam) is classified as Residential Class IV Type - I.