Guideline Value for Bajanai Koil First Street

Bajanai Koil First Street guideline value

The current guideline value of Bajanai Koil First Street in Malligaicherry village, under the Konnur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bajanai Koil First Street has changed

The guideline value for Bajanai Koil First Street has seen several revisions over the years. In 2002, the value was Rs 280 per sq.ft, which increased to Rs 303 per sq.ft in 2003, marking an 8% increase. The value continued to rise significantly, reaching Rs 700 per sq.ft in 2007, a 131% increase from the previous revision. By 2012, it was recorded at Rs 2,250 per sq.ft, reflecting a substantial 221% increase from 2007. However, in 2017, the value dropped to Rs 1,507 per sq.ft, representing a decrease of 33%.

In 2023, the guideline value was revised to Rs 2,250 per sq.ft, and it further increased to Rs 2,400 per sq.ft in 2024, which is a 7% rise. Overall, from 2002 to 2024, the guideline value has increased by 757%. There are no figures available for the revisions in years not listed above.

Guideline values in Malligaicherry

Malligaicherry village has a total of 49 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for the area is Rs 2,400 per sq.ft, which is equal to the current value of Bajanai Koil First Street.

• Bajanai Koil Second Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Third Street: Rs 2,400 per sq.ft (2024)
• Dhanthoniammain Koil Lane: Rs 2,200 per sq.ft (2024)
• Dhanthoniammain Koil Street: Rs 3,000 per sq.ft (2024)
• Dhanthoniamman Koil Extension 1 to 4 Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. 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 further calculations.

Which Sub Registrar Office covers Bajanai Koil First Street?

The Sub Registrar Office that covers Bajanai Koil First Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Malligaicherry. It serves as a benchmark for determining the stamp duty and registration fees payable by buyers and sellers. When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately.

Additionally, the guideline value helps maintain transparency in property transactions. It provides a standard reference point for both buyers and sellers, ensuring that property values are assessed fairly during the registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil First Street?

The current guideline value of Bajanai Koil First Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 280 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 757% over the years.

What is the land classification for Bajanai Koil First Street?

Bajanai Koil First Street is classified as Residential Class II Type - I.

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

For a property valued at Rs 24,00,000, the stamp duty is Rs 1,68,000 and the registration fee is Rs 48,000, totaling Rs 2,16,000.

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

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.