Guideline Value for Bajanai Koil Street / Thiru Nagar

Bajanai Koil Street / Thiru Nagar guideline value

The current guideline value for Bajanai Koil Street / Thiru Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Bajanai Koil Street / Thiru Nagar has changed

The guideline value for Bajanai Koil Street / Thiru Nagar has seen significant changes over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 300 per sq.ft in 2007, a 41% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,340 per sq.ft, reflecting a 347% increase. In 2023, the value was Rs 2,000 per sq.ft, which further increased by 10% to the current value of Rs 2,200 per sq.ft in 2024. Notably, there is no figure available for this street in the 2012 revision.

Overall, from 2002 to 2024, the guideline value has increased by 1070%. The changes between the revisions highlight the significant growth in the guideline value over the years, with the most notable increase occurring between 2007 and 2017.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Bajanai Koil Street / Thiru Nagar above this median value.

• Bajanai Koil Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Bajanai Koil Street, Nagelkeni: Rs 2,200 per sq.ft (2024)
• Balaguruswamy Street, Annai Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Balaguruswamy Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Baharathiyar Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Baharathiyar Street / Sholavaram Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street / Thiru Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil Street / Thiru Nagar?

The Bajanai Koil Street / Thiru Nagar area is covered by 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 Pammal

The guideline value is a crucial factor during property registration in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value as it influences the total costs associated with the transaction, including stamp duty and registration fees.

When purchasing property, the guideline value ensures that the government receives appropriate revenue through taxes. It is essential for buyers 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 / Thiru Nagar?

The current guideline value of Bajanai Koil Street / Thiru Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 188 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1070% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Bajanai Koil Street / Thiru Nagar?

The Pammal Sub Registrar Office handles property registrations for Bajanai Koil Street / Thiru Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for property registration and affects the stamp duty and registration fees. It ensures that properties are registered at a fair minimum value, impacting the overall transaction costs.