Guideline Value for Bajanai Koil 3rd Street (Ward 22)

Bajanai Koil 3rd Street (Ward 22) guideline value

The current guideline value of Bajanai Koil 3rd Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bajanai Koil 3rd Street (Ward 22) has changed

The guideline value for Bajanai Koil 3rd Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, with the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which means that the 2024 figure for Bajanai Koil 3rd Street is below the median.

• Bajanai Koil 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 1st Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil St, Lakshmipuarm (Ward-27): Rs 1,300 per sq.ft (2024)
• Bagwatsingh Nagar / Extension (Ward No.10): Rs 2,200 per sq.ft (2024)
• Bagavathsingh Nagar / Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil 3rd Street (Ward 22)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil 3rd Street (Ward 22)?

The Sub Registrar Office that covers Bajanai Koil 3rd Street (Ward 22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil 3rd Street (Ward 22)?

The current guideline value of Bajanai Koil 3rd Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 1,300 per sq.ft, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Bajanai Koil 3rd Street?

Bajanai Koil 3rd Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bajanai Koil 3rd Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it is responsible for property registrations in this area.