Guideline Value for Bajanai Koil 1st Street

Bajanai Koil 1st Street guideline value

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

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

The guideline value for Bajanai Koil 1st Street has seen significant changes over the years. In 2002, the guideline value was Rs 164 per sq.ft. This value increased to Rs 181 per sq.ft in 2003, marking a 10% rise. The next revision in 2007 saw a substantial jump to Rs 400 per sq.ft, which is an increase of 121%. Following that, in 2012, the value rose to Rs 2,000 per sq.ft, reflecting a remarkable 400% increase. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, showing a decline of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, which was a 49% rise, and finally reached Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no figures available for the revisions in years other than those listed above. Therefore, the guideline values for Bajanai Koil 1st Street are strictly based on the years mentioned.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Bajanai Koil 1st Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Balaji Nagar Main: Rs 3,300 per sq.ft (2024)
• Balaya Nagar: Rs 3,300 per sq.ft (2024)
• Bharathiyar 1st Cross: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Cross: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 1st 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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 assistance.

Which Sub Registrar Office covers Bajanai Koil 1st Street?

The Sub Registrar Office that covers Bajanai Koil 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Moovarasampattu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The amount of these fees is calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value helps in establishing a benchmark for the sale price, ensuring that the transaction is registered at a value that reflects the current market conditions as determined by the authorities.

Frequently asked questions

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

The current guideline value of Bajanai Koil 1st 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 changed from Rs 164 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1241% over the years.

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

The registration office for Bajanai Koil 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in Bajanai Koil 1st Street?

Stamp duty for property in Bajanai Koil 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the same value.

What are the guideline values of other streets in Moovarasampattu?

Other streets in Moovarasampattu have varying guideline values, with rates ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft.