Guideline Value for Bajanai Koil Street (Near mudichur road ward-31)

Bajanai Koil Street (Near mudichur road ward-31) guideline value

The current guideline value of Bajanai Koil Street (Near mudichur road ward-31) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bajanai Koil Street (Near mudichur road ward-31) has changed

The guideline value for Bajanai Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. However, in 2023, the value increased significantly to Rs 3,000 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes are notable. The jump from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023 represents a 49% increase. The adjustment from 2012 to 2017 saw a decrease of 33%. 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 Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Bajanai Koil Street (Near mudichur road ward-31).

• Bajanai Koil Street ( Near Gandhi road Ward-1 ): Rs 2,200 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 mudichur road ward-31)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Street (Near mudichur road ward-31)?

The Sub Registrar Office that covers Bajanai Koil Street (Near mudichur road ward-31) 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 plays a crucial role during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street (Near mudichur road ward-31)?

The current guideline value of Bajanai Koil Street (Near mudichur road ward-31) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 3,000 per sq.ft in 2012, decreasing to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has set it at Rs 3,300 per sq.ft.

What is the stamp duty for properties in Bajanai Koil Street?

The stamp duty for properties in Bajanai Koil Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, a plot valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Which office handles property registrations for Bajanai Koil Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Bajanai Koil Street. It is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class I Type - I, which indicates the type of development permissible in the area.