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 Tnagar village, under the Thiyagaraya nagar SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,450 per sq.ft, which increased to Rs 1,610 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, a significant increase of 86%. By 2012, the value was Rs 5,000 per sq.ft, reflecting a 67% increase from the previous revision. However, in 2017, it dropped to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft in 2024, representing a 10% increase from the last revision.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 279% in the guideline value for Bajanai Koil Street.

Guideline values in Tnagar

Tnagar village has a total of 262 streets under the Thiyagaraya nagar SRO, with guideline values for 2024 ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in Tnagar is Rs 11,000 per sq.ft, placing Bajanai Koil Street's 2024 figure below that median.

• Bagirathiammal Street: Rs 14,300 per sq.ft (2024)
• Balaji Avenue 1 St Street: Rs 14,300 per sq.ft (2024)
• Balaji Avenue Iind Street: Rs 14,300 per sq.ft (2024)
• Balamandir Road: Rs 5,500 per sq.ft (2024)
• Balamuthukrishna Road: Rs 17,600 per sq.ft (2024)
• Balu Mudali Street: Rs 5,500 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 would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees 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.

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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration office uses this value to assess the transaction, and it is essential for both parties to be aware of the current rates to avoid any discrepancies 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,450 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which reflects an overall increase of 279% over the years.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, which is higher than the current value of Bajanai Koil Street.

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

For a property valued at 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 Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.