Guideline Value for Bajanai Koil P.T.C. Colony 2nd Street

Bajanai Koil P.T.C. Colony 2nd Street guideline value

The current guideline value of Bajanai Koil P.T.C. Colony 2nd Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bajanai Koil P.T.C. Colony 2nd Street has changed

The guideline value for Bajanai Koil P.T.C. Colony 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,300 per sq.ft, which was then reduced to Rs 871 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,300 per sq.ft in 2023, and further rose to Rs 1,400 per sq.ft in 2024, marking an 8% increase from the previous year.

In summary, from 2017 to 2023, the guideline value increased by 49%. However, there were no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 8%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Bajanai Koil P.T.C. Colony 2nd Street's 2024 figure is below that median.

• Bajanai Koil P.T.C. Colony 1st Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 3rd Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 4th Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Asta Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Bavanandiar 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil P.T.C. Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000. Together, the total cost for these fees would be Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil P.T.C. Colony 2nd Street?

The Bajanai Koil P.T.C. Colony 2nd Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable fees, such as stamp duty and registration fees. This ensures compliance with local regulations and helps in the smooth transfer of ownership.

Frequently asked questions

What is the current guideline value for Bajanai Koil P.T.C. Colony 2nd Street?

The current guideline value for Bajanai Koil P.T.C. Colony 2nd Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, marking an 8% increase. It was Rs 871 per sq.ft in 2017, showing a significant increase of 49% by 2023.

What is the land classification for Bajanai Koil P.T.C. Colony 2nd Street?

Bajanai Koil P.T.C. Colony 2nd Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Bajanai Koil P.T.C. Colony 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property, the stamp duty would be Rs 98,000 based on the current guideline value.