Guideline Value for Bajanai Koil Street ( Near Gandhi Road Ward-1 )

Bajanai Koil Street ( Near Gandhi road Ward-1 ) guideline value

The current guideline value of Bajanai Koil Street ( Near Gandhi road Ward-1 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Bajanai Koil Street ( Near Gandhi road Ward-1 ) has changed

The guideline value for Bajanai Koil Street has undergone several revisions over the years. In the 2012 revision, the rate was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

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

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Bajanai Koil Street ( Near Gandhi road Ward-1 ) is below this median.

• Bajanai Koil Street (Near mudichur road ward-31): Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street (Kannadapalayam): Rs 1,320 per sq.ft (2024)
• Bakthavatchalam Street: Rs 6,600 per sq.ft (2024)
• Bagavath Sing Street: Rs 3,300 per sq.ft (2024)
• Ayyasamy Street: Rs 6,600 per sq.ft (2024)
• Ayyanar Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street ( Near Gandhi road Ward-1 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil Street ( Near Gandhi road Ward-1 )?

The Sub Registrar Office that covers Bajanai Koil Street ( Near Gandhi road Ward-1 ) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a critical factor in the registration process of property transactions in Tambaram. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in determining the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street ( Near Gandhi road Ward-1 )?

The current guideline value of Bajanai Koil Street ( Near Gandhi road Ward-1 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is currently Rs 2,200 per sq.ft in 2024.

What is the land classification for Bajanai Koil Street ( Near Gandhi road Ward-1 )?

Bajanai Koil Street ( Near Gandhi road Ward-1 ) is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for Bajanai Koil Street ( Near Gandhi road Ward-1 ) located?

The Sub Registrar Office for this street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions in Tambaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value of Rs 2,200 per sq.ft, the stamp duty would be calculated accordingly during the registration process.