Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has undergone several revisions over the years. In 2003, the value was Rs 629 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The subsequent revision in 2012 saw the value rise to Rs 3,500 per sq.ft, but this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,850 per sq.ft. The register has no figure for this street in 2002.

From 2003 to 2024, the overall increase in the guideline value is 512%. Notably, the change from 2023 to 2024 reflects a 10% increase, while the jump from 2017 to 2023 shows a substantial 49% increase. The value saw a significant rise of 338% between 2007 and 2012, while the period from 2012 to 2017 experienced a decrease of 33%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram village has a total of 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 2,700 per sq.ft, placing Bajanai Koil Street's 2024 figure above that median.

• Bakthavalsalam Nagar: Rs 2,700 per sq.ft (2024)
• Balakrishnan Street: Rs 2,700 per sq.ft (2024)
• Asen Basha Street: Rs 3,300 per sq.ft (2024)
• Arumugapillai Street: Rs 2,750 per sq.ft (2024)
• Bazaar Road, Police Station Road, Indra Gandhi Road: Rs 4,400 per sq.ft (2024)
• Arumalai Chavadi: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that 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?

The Sub Registrar Office that covers Bajanai Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

Buyers and sellers must consider the guideline value as it directly impacts the stamp duty and registration fees payable during the transaction. The registration office uses this value to calculate the necessary fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 629 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 512% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Bajanai Koil Street?

The Pallavaram Sub Registrar Office handles registrations for Bajanai Koil Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, with Bajanai Koil Street's value being above this median at Rs 3,850 per sq.ft.