Guideline Value for Bajanai Koil Street (Ponniamman Medu) (Ward-22)

Bajanai Koil Street (Ponniamman Medu) (Ward-22) guideline value

The current guideline value of Bajanai Koil Street (Ponniamman Medu) (Ward-22) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Bajanai Koil Street (Ponniamman Medu) (Ward-22) has changed

The guideline value for Bajanai Koil Street (Ponniamman Medu) has remained stable at Rs 2,500 per sq.ft from the 2012 revision until the 2023 revision. In the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

There are no figures available in the register for 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, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Bajanai Koil Street (Ponniamman Medu) above this median.

• Bajanai Koil St ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Bajanai Koil St ( Ward No.23 ): Rs 1,300 per sq.ft (2024)
• Bajanai Koil St ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Bajanai koil St ( Ward No.31 ): Rs 1,300 per sq.ft (2024)
• Bajanai Koil St ( Ward No.9 ): Rs 1,300 per sq.ft (2024)
• Bajani Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street (Ponniamman Medu) (Ward-22)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, resulting in a total cost of Rs 2,43,000. Duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil Street (Ponniamman Medu) (Ward-22)?

The Sub Registrar Office that covers Bajanai Koil Street (Ponniamman Medu) (Ward-22) 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 during property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued during the transaction.

When buyers and sellers agree on a sale price, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street (Ponniamman Medu) (Ward-22)?

The current guideline value of Bajanai Koil Street (Ponniamman Medu) (Ward-22) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street (Ponniamman Medu) (Ward-22) is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bajanai Koil Street?

The Madhavaram Sub Registrar Office, which covers Bajanai Koil Street (Ponniamman Medu) (Ward-22), is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 27,00,000, the stamp duty would be calculated on this amount if it is higher than the sale price.