Guideline Value for Bajanai Koil 1st Street Block 8 (V.P)

Bajanai Koil 1st Street Block 8 (V.P) guideline value

The current guideline value of Bajanai Koil 1st Street Block 8 (V.P) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bajanai Koil 1st Street Block 8 (V.P) has changed

The guideline value for Bajanai Koil 1st Street Block 8 (V.P) has undergone several revisions over the years. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 313%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2023, followed by another rise to the current value of Rs 5,500 per sq.ft in 2024, representing a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 355%. It is important to note that the register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Bajanai Koil 1st Street Block 8 (V.P) above this median at Rs 5,500 per sq.ft.

• Bajanai Koil 2nd Street Block 9: Rs 5,500 per sq.ft (2024)
• Babu Rajendra Prasad Street: Rs 4,400 per sq.ft (2024)
• Babu Rajendra Prasad 2nd Street: Rs 4,400 per sq.ft (2024)
• Babu Rajendra Prasad 1st Street: Rs 4,400 per sq.ft (2024)
• Bajanai Koil Street (Block 8): Rs 5,500 per sq.ft (2024)
• Azhagar Perumal Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 1st Street Block 8 (V.P)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. 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 detailed calculations.

Which Sub Registrar Office covers Bajanai Koil 1st Street Block 8 (V.P)?

The Sub Registrar Office that covers Bajanai Koil 1st Street Block 8 (V.P) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration office will assess the property based on the guideline value, ensuring that all transactions comply with local regulations.

Frequently asked questions

What is the current guideline value of Bajanai Koil 1st Street Block 8 (V.P)?

The current guideline value of Bajanai Koil 1st Street Block 8 (V.P) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355% over the years.

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

The stamp duty is calculated at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for this street?

The Ashok Nagar Sub Registrar Office handles registrations for Bajanai Koil 1st Street Block 8 (V.P), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Bajanai Koil 1st Street Block 8 (V.P)?

Bajanai Koil 1st Street Block 8 (V.P) is classified as Residential Class III Type - I.