Guideline Value for BAJANAI KOIL STREET (THANTHANKUPPAM)

Bajanai Koil Street (Thanthankuppam) guideline value

The current guideline value of Bajanai Koil Street (Thanthankuppam) is Rs 1,600 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 III Type - III.

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

Over the years, the guideline value for Bajanai Koil Street (Thanthankuppam) has experienced several revisions. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 has seen the guideline value rise to Rs 1,600 per sq.ft, representing a 59% increase from the 2017 figure.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

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 a median value of Rs 2,500 per sq.ft. Bajanai Koil Street (Thanthankuppam) has a guideline value that is below this median.

• Bajanai Koil Street (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Bajanai Koil Street (Korattur) (Kachinakuppam): Rs 2,500 per sq.ft (2024)
• Bajanai Koil Street (Korattur): Rs 2,500 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 (Thanthankuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office that covers Bajanai Koil Street (Thanthankuppam) 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 details.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is used as a reference point to assess the property's worth for official documentation and taxation purposes.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of transactions. The registration process requires that the property be valued according to the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Bajanai Koil Street (Thanthankuppam) is Rs 1,600 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 1,600 per sq.ft in 2024, marking an overall increase of 540% over the years.

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

Bajanai Koil Street (Thanthankuppam) is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for Bajanai Koil Street (Thanthankuppam)?

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

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

The stamp duty for properties in Bajanai Koil Street (Thanthankuppam) is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,12,000.