Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 2,950 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Bajanai Koil Street has changed

Over the years, the guideline value of Bajanai Koil Street has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 2,700 per sq.ft. The latest revision in 2024 has further increased the value to Rs 2,950 per sq.ft, marking a 9% rise 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 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. Bajanai Koil Street's 2024 figure of Rs 2,950 per sq.ft is above this median.

• Balm Avenue: Rs 3,300 per sq.ft (2024)
• Basil Avenue: Rs 3,300 per sq.ft (2024)
• Basil Avenue Extension: Rs 3,300 per sq.ft (2024)
• Arun Avenue Extension: Rs 3,300 per sq.ft (2024)
• Arun Avenue: Rs 2,700 per sq.ft (2024)
• Aravind Avenue: Rs 2,950 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,950 per sq.ft, the total guideline value is Rs 29,50,000. The stamp duty at 7% would amount to Rs 2,06,500, and the registration fee at 2% would be Rs 59,000. Together, the total cost for these fees would be Rs 2,65,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price; the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 2,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,950 per sq.ft in 2024, a 9% increase. It was Rs 1,809 per sq.ft in 2017, showing significant changes over the years.

What is the land classification of Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Special Type - II under the Selaiyur SRO.

What are the stamp duty and registration fees for property in Bajanai Koil Street?

For a property valued at Rs 29,50,000, the stamp duty would be Rs 2,06,500 and the registration fee would be Rs 59,000, totaling Rs 2,65,500.

Where is the Sub Registrar Office for Bajanai Koil Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.