Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 300 per sq.ft. The 2017 revision marked a significant increase, with the value rising to Rs 201 per sq.ft, reflecting a 49% increase from the previous revision. However, there are no figures available for the years 2002, 2003, and 2007 in the register.

As of the 2024 revision, the guideline value remains at Rs 300 per sq.ft, showing no change from the 2023 revision. Overall, from 2012 to 2024, the guideline value has remained stable, with no increase or decrease. The fluctuations in the revisions indicate varying market conditions over the years.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Bajanai Koil Street's guideline value of Rs 300 per sq.ft is below this median.

• Arul Avenue: Rs 300 per sq.ft (2024)
• Bharathi Avenue: Rs 500 per sq.ft (2024)
• Arlington county Ph.II: Rs 900 per sq.ft (2024)
• Arlington county Ph.I Extension: Rs 900 per sq.ft (2024)
• Arlington County Ph.I: Rs 900 per sq.ft (2024)
• Arlington County Phase - IV: Rs 1,344 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 rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of properties in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This process helps maintain transparency and standardization in 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a notable increase to Rs 201 per sq.ft in 2017. The value has remained stable at Rs 300 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value in Mevaloorkuppam?

The median guideline value in Mevaloorkuppam is Rs 400 per sq.ft, with Bajanai Koil Street's value of Rs 300 per sq.ft falling below this median.

What are the stamp duty rates for properties in Bajanai Koil Street?

The stamp duty for properties in Bajanai Koil Street is charged at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000.

Where is the Sub Registrar Office for Bajanai Koil Street located?

The Sub Registrar Office for Bajanai Koil Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.