Guideline Value for Bajanai Koil Street Lane

Bajanai Koil Street Lane guideline value

The current guideline value of Bajanai Koil Street Lane is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Bajanai Koil Street Lane has changed

Looking at the historical revisions, the guideline value for Bajanai Koil Street Lane has seen several changes. In the 2012 revision, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and further rose to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Bajanai Koil Street Lane is below this median.

• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 2nd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 3rd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda First Avenue: Rs 2,750 per sq.ft (2024)
• Bakyalakshmi Nagar: Rs 3,100 per sq.ft (2024)
• Balabigai Nagar All Cross Streets: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bajanai Koil Street Lane?

The Sub Registrar Office that covers Bajanai Koil Street Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Bajanai Koil Street Lane?

The current guideline value for Bajanai Koil Street Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Bajanai Koil Street Lane?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Bajanai Koil Street Lane?

The Chennai South Joint II Sub Registrar Office covers Bajanai Koil Street Lane, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Bajanai Koil Street Lane?

Bajanai Koil Street Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.