Guideline Value for Bajanai Koil Lane

Bajanai Koil Lane guideline value

The current guideline value of Bajanai Koil Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Bajanai Koil Lane has changed

Over the years, the guideline value of Bajanai Koil Lane has seen several revisions. The 2012 revision set the value at Rs 6,000 per sq.ft, which was then reduced to Rs 4,020 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 6,000 per sq.ft in the 2023 revision, and finally reached Rs 6,600 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for the village is Rs 4,400 per sq.ft, making Bajanai Koil Lane's 2024 figure of Rs 6,600 per sq.ft above this median.

• Bajanai Koil Street: Rs 4,400 per sq.ft (2024)
• Baganathan Lane: Rs 3,800 per sq.ft (2024)
• Badri Veerasamy Street: Rs 4,400 per sq.ft (2024)
• Badrian Street: Rs 8,800 per sq.ft (2024)
• Baksar Street: Rs 8,800 per sq.ft (2024)
• Ayya Pillai Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil Lane?

The Sub Registrar Office that covers Bajanai Koil Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bajanai Koil Lane?

The current guideline value of Bajanai Koil Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Bajanai Koil Lane?

Bajanai Koil Lane is classified as Commercial Class I Type - III, indicating its commercial usage under the local regulations.

What are the other streets in Muthiyalpet?

Other streets in Muthiyalpet include Bajanai Koil Street, Baganathan Lane, Badri Veerasamy Street, Badrian Street, Baksar Street, and Ayya Pillai Street, each with their respective guideline values for 2024.

Where can I find the Sub Registrar Office for Bajanai Koil Lane?

The Sub Registrar Office for Bajanai Koil Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles all registrations for properties in the area.