Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street in Papanguzhi village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as 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 2012, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, by 2023, the value increased significantly to Rs 200 per sq.ft, reflecting a rise of 49% from the 2017 revision. The most recent revision in 2024 maintained this value at Rs 200 per sq.ft, indicating no change from the previous year.

It is important to note that for the years 2002, 2003, and 2007, the register has no figure for Bajanai Koil Street. Therefore, we only have the values from the years 2012, 2017, 2023, and 2024 to consider.

Guideline values in Papanguzhi

In Papanguzhi village, there are nine streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Bajanai Koil Street in 2024.

• Colony Street: Rs 200 per sq.ft (2024)
• odai Street: Rs 300 per sq.ft (2024)
• padasalai Street: Rs 200 per sq.ft (2024)
• Palla Street: Rs 200 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• P.M.S Nagar: Rs 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Street?

The Bajanai Koil Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Papanguzhi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and remains at Rs 200 per sq.ft in 2024.

What is the land classification for Bajanai Koil Street?

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

Which Sub Registrar Office covers Bajanai Koil Street?

The Sunguvarchattram Sub Registrar Office covers Bajanai Koil Street, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, 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 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000, resulting in a stamp duty of Rs 14,000 at 7%.