Guideline Value for Bajanai Koil 2nd Street

Bajanai Koil 2nd Street guideline value

The current guideline value of Bajanai Koil 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

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. In 2002, the value was Rs 945 per sq.ft, which increased to Rs 1,032 per sq.ft in 2003, marking a 9% rise. The value continued to rise to Rs 1,100 per sq.ft in 2007, showing a 7% increase. By 2012, the value jumped significantly to Rs 3,500 per sq.ft, reflecting a 218% increase. However, the value then decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The most recent revisions saw the value rise to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 307%. There are no figures available for the revisions in years other than those listed.

Guideline values in Saligramam

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

• Bajanai Koil 1st 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 2nd 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, and the registration fee at 2% would be Rs 77,000. Together, these fees would total 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.

For more information, 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 307% over this period.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Bajanai Koil 2nd Street?

The Virugambakkam Sub Registrar Office handles property registrations for Bajanai Koil 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Saligramam?

The guideline value for properties in Saligramam is determined by the Registration Department and is subject to periodic revisions. It is based on various factors, including land classification and location within the village.