Guideline Value for BAJANAI KOVIL STREET

Bajanai Kovil Street guideline value

The current guideline value of Bajanai Kovil Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village under the Ponneri SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Bajanai Kovil Street has changed

Over the years, the guideline value of Bajanai Kovil Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which increased to Rs 804 per sq.ft in 2017. The value then remained unchanged at Rs 1,200 per sq.ft for both the 2023 and 2024 revisions, indicating a significant increase of 49% from 2017 to 2023 and an overall increase of 50% from 2012 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The consistent value of Rs 1,200 per sq.ft in the recent revisions suggests stability in the guideline value.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft. The median value among these streets is Rs 700 per sq.ft, which means Bajanai Kovil Street's 2024 guideline value is above this median.

• Balaji Nagar: Rs 700 per sq.ft (2024)
• Avvai Street: Rs 700 per sq.ft (2024)
• Attrangarai: Rs 900 per sq.ft (2024)
• Balaji Nagar Virivakkam: Rs 700 per sq.ft (2024)
• Athaualla Street: Rs 700 per sq.ft (2024)
• Atha Thulla Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, leading to a total of Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Bajanai Kovil Street?

Bajanai Kovil Street falls under the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For further details, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ponneri. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used for calculating the applicable duties and fees. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street?

The current guideline value of Bajanai Kovil Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 1,200 per sq.ft from 2023 to 2024. It increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Bajanai Kovil Street?

Bajanai Kovil Street is classified as Residential Special Type - I under the land classification system.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Ponneri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.