Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

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 earliest recorded figure is from 2002, where the guideline value was Rs 280 per sq.ft. This increased to Rs 346 per sq.ft in 2003, marking a 24% rise. In 2007, the value jumped significantly to Rs 1,100 per sq.ft, reflecting a 218% increase. Following this, in 2012, the value was Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw a notable increase to Rs 1,675 per sq.ft, an increase of 49% from 2012. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,750 per sq.ft, marking a 10% increase.

It is important to note that the register has no figure for the years not mentioned above. The overall change from 2002 to 2024 is an increase of 882%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, indicating that Bajanai Koil Street's 2024 figure is below this median.

• Bajanai Koil Street Lane: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 2nd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 3rd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda First Avenue: Rs 2,750 per sq.ft (2024)
• Bakyalakshmi Nagar: Rs 3,100 per sq.ft (2024)
• Balabigai Nagar All Cross Streets: Rs 3,100 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Chennai South Joint II 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations during the transaction.

Additionally, the guideline value impacts the calculation of stamp duty and registration fees, which are essential costs associated with property transactions. Understanding the guideline value helps in accurately estimating these expenses and ensures a smooth registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 280 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 882% over the years.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

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

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