Guideline Value for Bajanai Koil 1st Street (Ward 22)

Bajanai Koil 1st Street (Ward 22) guideline value

The current guideline value of Bajanai Koil 1st Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bajanai Koil 1st Street (Ward 22) has changed

In the 2012 revision, the guideline value for Bajanai Koil 1st Street was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,200 per sq.ft. However, the 2024 revision saw an increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been an increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

Madhavaram village has a wide range of guideline values across its 1,946 streets, with the 2024 figures ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Bajanai Koil 1st Street's 2024 figure below that median.

• Bajanai Koil 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 3rd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bagwatsingh Nagar / Extension (Ward No.10): Rs 2,200 per sq.ft (2024)
• Bagavathsingh Nagar / Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil St, Lakshmipuarm (Ward-27): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 1st Street (Ward 22)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Bajanai Koil 1st Street (Ward 22)?

The Sub Registrar Office that covers Bajanai Koil 1st Street (Ward 22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property must be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bajanai Koil 1st Street (Ward 22)?

The current guideline value of Bajanai Koil 1st Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023 and increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Bajanai Koil 1st Street?

Bajanai Koil 1st Street is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Bajanai Koil 1st Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.