Guideline Value for Bajanai Koil 1st Street

Bajanai Koil 1st Street guideline value

The current guideline value of Bajanai Koil 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

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

Over the years, the guideline value of Bajanai Koil 1st Street has seen significant changes. In 2002, the value was Rs 500 per sq.ft, which increased to Rs 546 per sq.ft in 2003, marking a 9% rise. The value then rose to Rs 1,100 per sq.ft in 2007, reflecting a substantial increase of 101%. Following this, in 2012, the value was recorded at Rs 3,500 per sq.ft, showing a remarkable increase of 218% from the previous revision. However, between 2012 and 2017, the value decreased by 33% to Rs 2,345 per sq.ft. The value then climbed to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 shows an increase to Rs 3,850 per sq.ft, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 670%. The register has no figure for the years not mentioned in this summary.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 4,400 per sq.ft, placing Bajanai Koil 1st Street's current guideline value below this median.

• Bajanai Koil 2nd Street: Rs 3,850 per sq.ft (2024)
• A.V.M Street: Rs 4,400 per sq.ft (2024)
• A.V.M.Nagar: Rs 4,950 per sq.ft (2024)
• Arunachalam Road (Main): Rs 7,690 per sq.ft (2024)
• Bangaru Street: Rs 6,600 per sq.ft (2024)
• Banumathi Ramakrishna Street: Rs 6,600 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total fees would be Rs 3,46,500. 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 details.

Which Sub Registrar Office covers Bajanai Koil 1st Street?

The Bajanai Koil 1st Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are documented accurately.

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 the appropriate revenue from property transactions.

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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 670% over this period.

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

Bajanai Koil 1st Street is classified as Residential Class II Type - II.

Which Sub Registrar Office is responsible for Bajanai Koil 1st Street?

The Virugambakkam Sub Registrar Office covers Bajanai Koil 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,46,500.