Guideline Value for Bajanai Koil Street (ward 3)

Bajanai Koil Street (ward 3) guideline value

The current guideline value of Bajanai Koil Street (ward 3) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Bajanai Koil Street (ward 3) has changed

The guideline value for Bajanai Koil Street (ward 3) has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,206 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 1,800 per sq.ft, marking a significant rise of 49% from the previous revision. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, reflecting a further increase of 10% from 2023. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This progression highlights the changes in property valuation over the years, culminating in the current rate.

Guideline values in Kolapakkam

In Kolapakkam village, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Bajanai Koil Street (ward 3) below this median value.

• Bajanai Koil Street (ward 7): Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street (ward 8): Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street (ward 1): Rs 1,980 per sq.ft (2024)
• Balaji Nagar: Rs 1,650 per sq.ft (2024)
• Arunagiri Street (ward 5): Rs 1,650 per sq.ft (2024)
• Arunagiri Street (ward 4): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street (ward 3)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bajanai Koil Street (ward 3)?

The Bajanai Koil Street (ward 3) is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolapakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the duty is calculated based on the higher value between the guideline and the sale price.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street (ward 3)?

The current guideline value of Bajanai Koil Street (ward 3) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% over the seven years.

What is the land classification for Bajanai Koil Street (ward 3)?

Bajanai Koil Street (ward 3) is classified as Residential Class III Type - I, indicating its suitability for residential development.

How does the guideline value compare to other streets in Kolapakkam?

The guideline value of Bajanai Koil Street (ward 3) is Rs 1,980 per sq.ft, which is below the median value of Rs 2,200 per sq.ft for the 111 streets in Kolapakkam under the Pammal SRO.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles registrations for properties in the Kolapakkam area.