Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Nemili village under the Sriperumpudur SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Bajanai Koil Street has changed

Over the years, the guideline value of Bajanai Koil Street has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft. However, from 2017 to 2023, the value increased by 50% back to Rs 250 per sq.ft, and there was no change from 2023 to the 2024 revision, which also recorded a value of Rs 250 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is 0%. The fluctuations in the guideline values reflect the adjustments made in previous years, but the current rate aligns with the median value of Rs 250 per sq.ft for other streets in Nemili.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Bajanai Koil Street's 2024 figure matches this median.

• Bajanai Koil Cross Street: Rs 210 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Asina nagar: Rs 210 per sq.ft (2024)
• Benzigar Nagar: Rs 250 per sq.ft (2024)
• Bhagavathy Nagar: Rs 210 per sq.ft (2024)
• Bharathi Nagar: Rs 210 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 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the 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 Nemili

The guideline value is a crucial factor when registering property in Nemili. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a standardized value set by the authorities.

When buying or selling property, the guideline value helps in determining the legal obligations for both parties. It ensures transparency and compliance with local regulations 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 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with fluctuations in between, including a decrease to Rs 167 per sq.ft in 2017 and a return to Rs 250 per sq.ft in 2023.

What is the land classification of Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bajanai Koil Street?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft incurs a total of Rs 22,500 in fees.