Guideline Value for BAJIBAI ROAD

Bajibai Road guideline value

The current guideline value of Bajibai Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Vadaagaram village, under the Kodambakkam SRO, classified as Residential Class IV Type - III.

How the guideline value of Bajibai Road has changed

The guideline value for Bajibai Road has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 515 per sq.ft. This increased to Rs 570 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 750 per sq.ft in 2007, a 32% increase from the previous year. The 2012 revision saw a drop to Rs 3,000 per sq.ft, which was a 300% increase from 2007, but a 33% decrease from the 2012 figure.

In 2017, the guideline value was revised to Rs 2,010 per sq.ft, reflecting a 49% increase from the previous revision. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, and the current value for 2024 is Rs 3,300 per sq.ft, representing a 10% increase from 2023. There are no figures available for revisions in years other than those listed.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Bajibai Road's 2024 figure below that median.

• Bharathi Street: Rs 6,600 per sq.ft (2024)
• Chinnasamy Street: Rs 5,500 per sq.ft (2024)
• Ganesa Road: Rs 3,300 per sq.ft (2024)
• Gangadharan Street: Rs 4,900 per sq.ft (2024)
• Govindan Street: Rs 7,000 per sq.ft (2024)
• Govindasamy Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bajibai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Bajibai Road?

The Sub Registrar Office covering Bajibai Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vadaagaram. It is used to determine the stamp duty and registration fees when buying or selling a property. Buyers must consider the guideline value as it influences the overall cost of the transaction.

When registering a property, the guideline value is the benchmark for calculating the applicable fees. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Bajibai Road?

The current guideline value of Bajibai Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 515 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 541% over the years.

What are the stamp duty and registration fees for Bajibai Road?

For a 1,000 sq.ft plot at the current guideline value, the total cost would be Rs 2,97,000, which includes stamp duty and registration fees based on the guideline value.

Which office handles registrations for Bajibai Road?

The Kodambakkam Sub Registrar Office is responsible for registrations related to Bajibai Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring that buyers and sellers comply with local regulations.