Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village, under the Adayar SRO, and is classified as Residential Class IV Type - III.

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 2002, the value was Rs 821 per sq.ft, which increased to Rs 898 per sq.ft in 2003. The value continued to rise, reaching Rs 1,750 per sq.ft in 2007, before jumping to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then rose significantly to Rs 3,000 per sq.ft in 2023, and finally to the current Rs 3,300 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 9% from 2002 to 2003, followed by a 95% increase from 2003 to 2007. The value then saw a 71% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. After that, it increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024.

Guideline values in Pallipattu

In Pallipattu, there are 72 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 9,400 per sq.ft, placing Bajanai Koil Street's 2024 figure below that median.

• Bakthavachalam Nagar 1st Main Road: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 1st Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 4th Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 5th Street: Rs 9,400 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate taxes are calculated based on the higher figure, thus adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 821 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 302% over the years.

What is the median guideline value for streets in Pallipattu?

The median guideline value for streets in Pallipattu is Rs 9,400 per sq.ft, which is higher than the current value of Bajanai Koil Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.