Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 192 per sq.ft. This increased to Rs 219 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 350 per sq.ft in 2007, an increase of +60%. In the 2012 revision, it was recorded at Rs 1,300 per sq.ft, which was a substantial rise of +271% from the previous figure.

Moving forward, the value was revised to Rs 871 per sq.ft in 2017, reflecting a decrease of -33%. However, from 2017 to 2023, the guideline value saw a significant increase to Rs 1,300 per sq.ft, which is a rise of +49%. The most recent revision in 2024 set the value at Rs 1,400 per sq.ft, an increase of +8% from the previous year. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Bajanai Koil Street's guideline value of Rs 1,400 per sq.ft is below this median.

• Balaji Nagar: Rs 1,600 per sq.ft (2024)
• Barath Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Annai Sivagami Nagar: Rs 1,000 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 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ernavur. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. The value ensures that the transaction is recorded accurately and fairly in the official register.

When selling property, the guideline value helps determine the legal obligations for both the buyer and seller. It serves as a benchmark for the minimum price at which property can be sold, ensuring compliance with local regulations during the 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 1,400 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 192 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, marking an overall increase of +629% over this period.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Bajanai Koil Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,400 per sq.ft, the total guideline value is Rs 14,00,000, leading to a stamp duty of Rs 98,000.