Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen significant changes over the years. In 2002, the value was Rs 76 per sq.ft, which increased to Rs 156 per sq.ft in 2003, marking a 105% rise. This upward trend continued, with the value reaching Rs 300 per sq.ft in 2007, a 92% increase from the previous revision. The value then jumped dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 567% increase. However, it fell to Rs 1,340 per sq.ft in 2017, a decrease of 33% from the 2012 revision. The value then rose again to Rs 2,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,795%. There are no revisions with figures missing for Bajanai Koil Street in the register.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Bajanai Koil Street.

• Bajanai Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Babu Nagar Neela Nagar Annex Salai: Rs 2,750 per sq.ft (2024)
• Babu Nagar 4th Main Road: Rs 2,750 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Medavakkam, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the correct fees are paid during the registration of the property. This helps in maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 2,200 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 76 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024. Notable increases occurred between 2007 and 2012, and again from 2023 to 2024.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class I Type - I. This classification indicates the type of development allowed in the area.

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

The Sub Registrar Office for Bajanai Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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 property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.