Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 3,700 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this street is Commercial Class I Type - I.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 3,500 per sq.ft, and the current 2024 revision has further increased it to Rs 3,700 per sq.ft, marking a 6% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%, showing significant growth during that period. Overall, from the 2012 revision to the 2024 revision, there has been a modest increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Bajanai Koil Street's 2024 figure above that median.

• Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Bethel Nagar: Rs 1,650 per sq.ft (2024)
• Bharathiar Nagar: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Anusuya Avenue: Rs 3,700 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,900 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 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total fees together to Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 information.

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

The guideline value is an essential metric used during the registration process of property transactions in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 increasing it to Rs 3,700 per sq.ft from Rs 3,500 per sq.ft in 2023. The value was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 3,33,000.