Guideline Value for Bajanai Koil Street Lane

Bajanai Koil Street Lane guideline value

The current guideline value of Bajanai Koil Street Lane in Naravarikuppam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Bajanai Koil Street Lane has changed

The guideline value for Bajanai Koil Street Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% rise. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a 33% drop. The 2023 revision saw a substantial increase to Rs 2,000 per sq.ft, followed by another rise to Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The register has no figure for this street in the years 2002 and 2003.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Bajanai Koil Street Lane's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Bajanai Kovil Street: Rs 2,200 per sq.ft (2024)
• Aruljothi Vallalar Nagar: Rs 2,200 per sq.ft (2024)
• Arignar Anna Street (Park Street): Rs 1,870 per sq.ft (2024)
• Arignar Anna Street Lane: Rs 1,870 per sq.ft (2024)
• Arignar Anna Street: Rs 1,870 per sq.ft (2024)
• Bharathidasanar Street: Rs 1,650 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 2,200 per sq.ft, the total 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, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for your convenience.

Which Sub Registrar Office covers Bajanai Koil Street Lane?

The Bajanai Koil Street Lane is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Naravarikuppam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

When buying or selling property, it is crucial to be aware of the guideline value, as it may affect the overall cost of the transaction. Buyers should ensure that they are informed about 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 Lane?

The current guideline value of Bajanai Koil Street Lane 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 from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 267% over the years.

What are the other streets in Naravarikuppam with similar guideline values?

Other streets in Naravarikuppam with similar guideline values include Bajanai Kovil Street and Aruljothi Vallalar Nagar, both at Rs 2,200 per sq.ft in 2024.

What is the stamp duty rate for property in Bajanai Koil Street Lane?

The stamp duty rate for property transactions in Bajanai Koil Street Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.