Guideline Value for BAJANAI KOIL WEST STREET

Bajanai Koil West Street guideline value

The current guideline value for Bajanai Koil West Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bajanai Koil West Street has changed

Over the years, the guideline value for Bajanai Koil West Street has seen significant changes. The earliest recorded figure in the register is from 2003, when the guideline value was Rs 85 per sq.ft. This figure increased dramatically to Rs 700 per sq.ft in 2007, marking a rise of 724%. In 2012, the guideline value was revised to Rs 1,500 per sq.ft, reflecting a 114% increase from the previous revision. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, which represented a drop of 33%.

In 2023, the guideline value increased to Rs 1,500 per sq.ft, and in 2024, it further rose to Rs 1,700 per sq.ft, resulting in a 13% increase. Overall, from 2003 to 2024, the guideline value has increased by 1900%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which aligns with the current value for Bajanai Koil West Street.

• Bakkiam Ammal Garden: Rs 1,100 per sq.ft (2024)
• Bajanai Koil East Street: Rs 1,700 per sq.ft (2024)
• Balaji (Group) Garden: Rs 1,100 per sq.ft (2024)
• Balaram Garden: Rs 1,100 per sq.ft (2024)
• Arumugam/Neelabmbal Garden: Rs 1,100 per sq.ft (2024)
• Beach Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bajanai Koil West Street?

The Sub Registrar Office that covers Bajanai Koil West Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to accurately calculate the costs involved.

When registering a property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Bajanai Koil West Street?

The current guideline value for Bajanai Koil West Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 85 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 1900%.

What is the land classification for Bajanai Koil West Street?

Bajanai Koil West Street is classified as Residential Class II Type - II.

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

The Neelankarai Sub Registrar Office covers Bajanai Koil West Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Uthandi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at 7%, while the registration fee is charged at 2% of the guideline value or sale price.