Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

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

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen several revisions over the years. In 2007, the value was Rs 1,209 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 107%. However, this value then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for Bajanai Koil Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 127%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. Bajanai Koil Street's current value of Rs 2,750 per sq.ft is above this median.

• Balaji Avenue: Rs 2,200 per sq.ft (2024)
• Asokan Street: Rs 2,160 per sq.ft (2024)
• Balaji Street: Rs 2,160 per sq.ft (2024)
• Balamurugan Street: Rs 2,160 per sq.ft (2024)
• Balasubramaniyam Street: Rs 2,750 per sq.ft (2024)
• Bashiyam Vathiyar Street: Rs 2,160 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to 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 details.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office covering Bajanai Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemilicherry. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the guideline value is considered along with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

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

How much has the guideline value changed in recent years?

In recent years, the guideline value has changed as follows: Rs 1,209 per sq.ft in 2007, Rs 2,500 per sq.ft in 2012, Rs 1,675 per sq.ft in 2017, Rs 2,500 per sq.ft in 2023, and finally Rs 2,750 per sq.ft in 2024.

What is the land classification of Bajanai Koil Street?

Bajanai Koil Street is classified as Commercial Class I Type - II.

Where can I find the registration office for Bajanai Koil Street?

The registration office for Bajanai Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Bajanai Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.