Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bajanai Koil Street has changed

The guideline value of Bajanai Koil Street has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, but then decreased to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes have been notable. From 2007 to 2012, there was an increase of 178%, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the current figure for Bajanai Koil Street.

• Babu Street: Rs 5,500 per sq.ft (2024)
• Babu Lane: Rs 5,500 per sq.ft (2024)
• Ayyavu Street: Rs 4,400 per sq.ft (2024)
• Avadhanam Pappaiyar Street & Road: Rs 7,700 per sq.ft (2024)
• Avadhanam Pappaiyar 2nd Lane: Rs 6,500 per sq.ft (2024)
• Avadhanam Pappaiyar 1st Lane: Rs 6,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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 registration reflects a fair value for the property being transacted.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increments and decrements along the way.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class III Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

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

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.