Guideline Value for Bajanai Koil St, Lakshmipuarm (Ward-27)

Bajanai Koil St, Lakshmipuarm (Ward-27) guideline value

The current guideline value for Bajanai Koil St, Lakshmipuarm (Ward-27) 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 St, Lakshmipuarm (Ward-27) has changed

The guideline value for Bajanai Koil St has seen several revisions over the years. From the 2012 revision, which set the value at Rs 1,200 per sq.ft, there was no change until the 2023 revision, where the value remained the same. However, in the 2024 revision, the value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Bajanai Koil St, Lakshmipuarm is below this median.

• Bajanai Koil 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)
• 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)
• Bagwatsingh Nagar / Extension (Ward No.10): Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street (Ponniamman Medu) (Ward-22): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil St, Lakshmipuarm (Ward-27)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Bajanai Koil St, Lakshmipuarm (Ward-27)?

The Sub Registrar Office that covers Bajanai Koil St, Lakshmipuarm (Ward-27) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When transactions occur, the guideline value ensures that the government receives the appropriate revenue from property sales. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Bajanai Koil St, Lakshmipuarm (Ward-27)?

The current guideline value for Bajanai Koil St, Lakshmipuarm (Ward-27) 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 the 2012 revision until the 2023 revision. In the 2024 revision, it increased to Rs 1,300 per sq.ft, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Bajanai Koil St, Lakshmipuarm (Ward-27)?

Bajanai Koil St, Lakshmipuarm (Ward-27) is classified as Residential Class III Type - I, indicating its use for residential purposes.

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

For a property valued at 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, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.