Guideline Value for Bajanai Koil Street West

Bajanai Koil Street West guideline value

The current guideline value of Bajanai Koil Street West is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Bajanai Koil Street West has changed

The guideline value for Bajanai Koil Street West has seen several revisions over the years. The earliest revision available is from 2017, which set the value at Rs 1,675 per sq.ft. This figure increased to Rs 2,500 per sq.ft in 2023 and further rose to Rs 2,750 per sq.ft in the 2024 revision, marking a significant increase of 64% from the 2017 figure.

Between 2017 and 2023, the guideline value increased by 49%. The 2024 revision reflects a 10% increase from the previous year. There are no available figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value for Bajanai Koil Street West.

• Bajanai Koil Street (Pillaiyar Koil Street): Rs 2,750 per sq.ft (2024)
• Bajanai Koil Street (Karthik Avenue): Rs 2,750 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil 4th Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil 3rd Street: Rs 2,750 per sq.ft (2024)

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

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, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. Please 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 information on fees.

Which Sub Registrar Office covers Bajanai Koil Street West?

The Sub Registrar Office covering Bajanai Koil Street West is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street West?

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

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, representing an overall increase of 64%.

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

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

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and reflects the minimum value for property registration in a specific area, ensuring compliance with legal and financial regulations.