Guideline Value for Bajanai Koil 1st Cross Street

Bajanai Koil 1st Cross Street guideline value

The current guideline value of Bajanai Koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Bajanai Koil 1st Cross Street has changed

The guideline value for Bajanai Koil 1st Cross Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This was followed by a significant increase to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023 and an overall increase of 64% since 2017.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The changes from 2017 to 2023 represent a substantial increase of 49%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Bajanai Koil 1st Cross Street's 2024 figure above this median.

• Bajanai Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil St: Rs 2,200 per sq.ft (2024)
• Balaji 1,2,3,4,5 Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil 1st Cross Street?

The Bajanai Koil 1st Cross Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This means that buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Bajanai Koil 1st Cross Street?

The current guideline value of Bajanai Koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the registration office for Bajanai Koil 1st Cross Street?

The registration office for Bajanai Koil 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

How is the guideline value determined for properties in Pozhichalur?

The guideline value is determined by the Registration Department and varies by street and land classification. It serves as a basis for calculating stamp duty and registration fees during property transactions.