Guideline Value for Bajanai Koil 4th Street (Ward 22)

Bajanai Koil 4th Street (Ward 22) guideline value

The current guideline value of Bajanai Koil 4th 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 4th Street (Ward 22) has changed

The guideline value for Bajanai Koil 4th Street (Ward 22) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value for this street is an increase of 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft in 2024. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the 2024 figure for Bajanai Koil 4th Street is below this median.

• Bajanai Koil 3rd 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 4th 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 cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil 4th Street (Ward 22)?

The Sub Registrar Office that covers Bajanai Koil 4th 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 details.

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 a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil 4th Street (Ward 22)?

The current guideline value of Bajanai Koil 4th 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. It increased to Rs 1,300 per sq.ft in the 2024 revision, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Bajanai Koil 4th Street?

Bajanai Koil 4th Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

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 based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Bajanai Koil 4th Street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.