Guideline Value for BAZANAI KOVIL STREET

Bazanai Kovil Street guideline value

The current guideline value of Bazanai Kovil Street is Rs 102 per sq.ft, effective from 1 July 2024. This street is located in Kilakadi village, under the Salavakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bazanai Kovil Street has changed

The guideline value for Bazanai Kovil Street has seen several revisions over the years. In 2012, the value was Rs 60 per sq.ft, which decreased to Rs 40 per sq.ft in 2017. However, this figure rose significantly to Rs 100 per sq.ft in 2023, marking a 150% increase from 2017. The most recent revision in 2024 set the value at Rs 102 per sq.ft, reflecting a 2% increase from the previous year.

It is important to note that there are no figures available for Bazanai Kovil Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 70%.

Guideline values in Kilakadi

In Kilakadi village, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 433 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Bazanai Kovil Street's 2024 figure below this median.

• Gp Promoters Green City: Rs 433 per sq.ft (2024)
• Laurel Nagar: Rs 101 per sq.ft (2024)
• Mari Amman Kovil Street: Rs 100 per sq.ft (2024)
• Marudham Nagar: Rs 101 per sq.ft (2024)
• Marudham Nagar Extension: Rs 101 per sq.ft (2024)
• Mullai Nagar: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Bazanai Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total fees to Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bazanai Kovil Street?

The Sub Registrar Office that covers Bazanai Kovil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kilakadi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bazanai Kovil Street?

The current guideline value of Bazanai Kovil Street is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2012 to Rs 40 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the median guideline value in Kilakadi?

The median guideline value for the streets in Kilakadi is Rs 150 per sq.ft, with Bazanai Kovil Street's current value being below this median.

Where is the Salavakkam Sub Registrar Office located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Bazanai Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,02,000, the stamp duty at 7% would be Rs 7,140.