Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Bajanai Koil Street has changed

The guideline value of Bajanai Koil Street has seen significant changes over the years. In 2003, the guideline value was Rs 69 per sq.ft, which increased to Rs 810 per sq.ft in 2007, marking a substantial rise of 1,074%. The value continued to climb, reaching Rs 1,340 per sq.ft in 2017, reflecting a 65% increase from the previous revision. In 2023, the guideline value was Rs 2,000 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 saw the guideline value rise to Rs 2,200 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for Bajanai Koil Street. Overall, from 2003 to 2024, the guideline value has increased by 3,088%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this area is Rs 2,420 per sq.ft, placing Bajanai Koil Street's 2024 figure below that median.

• Bajanai Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Bakathavachalam Street: Rs 2,200 per sq.ft (2024)
• Avaiyar Street: Rs 2,420 per sq.ft (2024)
• Ariangar Anna Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street: Rs 2,420 per sq.ft (2024)
• Bharathidasan Street Extn.,: Rs 2,420 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 2,200 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 and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, which is essential for legal and taxation purposes. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street 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 increased significantly from Rs 69 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 3,088% over the years.

What is the registration office for Bajanai Koil Street?

The registration office for Bajanai Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000.

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

Other streets in Thiruneermalai with similar guideline values include Bajanai Koil Cross Street, Bakathavachalam Street, and Ariangar Anna Street, all valued at Rs 2,200 per sq.ft in 2024.