Guideline Value for Bajanai Koil Second Street

Bajanai Koil Second Street guideline value

The current guideline value of Bajanai Koil Second 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 Second Street has changed

The guideline value for Bajanai Koil Second Street has seen several revisions over the years. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 306 per sq.ft in 2003, marking an 8% increase. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting a 129% increase. Following this, the value jumped to Rs 2,250 per sq.ft in 2012, a substantial increase of 221%. However, the value decreased to Rs 1,507 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 2,250 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, representing a 7% increase from the previous year. The register has no figure for this street for the years not listed.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median being Rs 2,400 per sq.ft. The guideline value for Bajanai Koil Second Street aligns with this median.

• Bajanai Koil First 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 Second Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the guideline value totals 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, making the total Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Second Street?

The Sub Registrar Office that covers Bajanai Koil Second Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process for property transactions in Malligaicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller are aware of the financial implications of the transaction. This helps maintain transparency in property dealings.

Frequently asked questions

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

The current guideline value of Bajanai Koil Second 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 283 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 748% over the years.

What is the land classification for Bajanai Koil Second Street?

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

Where can I find the registration office for Bajanai Koil Second Street?

The registration office for Bajanai Koil Second Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.