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Guideline Value

Corporate

Guideline Value for Bajanai Koil 2nd Street

₹2750/sq.ft.

The guideline value for Bajanai Koil 2nd Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bajanai Koil 2nd Street

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Bajanai Koil 2nd Street guideline value

The current guideline value of Bajanai Koil 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Bajanai Koil 2nd Street has changed

The guideline value for Bajanai Koil 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking a change of 10%. Prior to that, in 2017, the guideline value was Rs 1,675 per sq.ft, indicating a significant increase of 49% to the 2023 figure. It is important to note that the register has no figures for the revisions made in 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent rise reflects the changes in property valuation over the years, culminating in the current rate of Rs 2,750 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which aligns with the guideline value of Bajanai Koil 2nd Street.

Stamp duty and registration fee for property in Bajanai Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil 2nd Street?

The Sub Registrar Office that covers Bajanai Koil 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bajanai Koil 2nd Street?

The current guideline value of Bajanai Koil 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 64%. The value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 that share the same guideline value of Rs 2,750 per sq.ft in 2024 include Bajanai Koil 1st Street, Bajanai Koil 3rd Street, Bajanai Koil 4th Street, and Bajanai Koil Cross Street.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000.