Guideline Value for Bajanai Koil Street (ward 7)

Bajanai Koil Street (ward 7) guideline value

The current guideline value of Bajanai Koil Street (ward 7) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village 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 7) has changed

The guideline value for Bajanai Koil Street (ward 7) has undergone several revisions over the years. The earliest recorded figure is from 2017, which was Rs 1,206 per sq.ft. This value increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, 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 the village is Rs 2,200 per sq.ft, which means that the guideline value for Bajanai Koil Street (ward 7) is below this median.

• Bajanai Koil Street (ward 3): 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 7)

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.

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

Which Sub Registrar Office covers Bajanai Koil Street (ward 7)?

Bajanai Koil Street (ward 7) falls under 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 information.

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

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

When buying or selling property, the guideline value helps both parties understand the minimum value of the property, which can influence negotiations. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street (ward 7)?

The current guideline value of Bajanai Koil Street (ward 7) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Kolapakkam?

The median guideline value in Kolapakkam is Rs 2,200 per sq.ft, making the guideline value of Bajanai Koil Street (ward 7) below this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 19,80,000, the total stamp duty and registration fees would amount to Rs 1,78,200.

Where can I find the Sub Registrar Office for Bajanai Koil Street (ward 7)?

The Sub Registrar Office covering Bajanai Koil Street (ward 7) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the appropriate link.