Guideline Value for Bajanai Koil Street (ward 8)

Bajanai Koil Street (ward 8) guideline value

The current guideline value of Bajanai Koil Street (ward 8) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village and falls under the Pammal SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bajanai Koil Street (ward 8) has changed

The guideline value for Bajanai Koil Street (ward 8) has seen significant changes over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision shows a further increase to Rs 1,980 per sq.ft, reflecting a 10% rise from the previous year.

Overall, the guideline value has increased by 64% from the 2017 figure to the current 2024 figure. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012.

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, making the current value of Bajanai Koil Street (ward 8) below that median.

• Bajanai Koil Street (ward 7): Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street (ward 3): 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 8)

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 cost to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bajanai Koil Street (ward 8)?

The Sub Registrar Office that covers Bajanai Koil Street (ward 8) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 when registering property transactions in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately for taxation purposes.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street (ward 8)?

The current guideline value of Bajanai Koil Street (ward 8) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, rising from Rs 1,206 per sq.ft to the current Rs 1,980 per sq.ft in 2024.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 1,78,200, including both fees.

Which office handles property registrations for Bajanai Koil Street (ward 8)?

The Pammal Sub Registrar Office handles property registrations for Bajanai Koil Street (ward 8), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets in Kolapakkam with similar guideline values?

Yes, there are several other streets in Kolapakkam with similar guideline values, including Bajanai Koil Street (ward 7), Bajanai Koil Street (ward 3), and Bajanai Koil Street (ward 1), all valued at Rs 1,980 per sq.ft in 2024.