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 Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bajanai Koil Street has changed

The guideline value of Bajanai Koil Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in the following revision in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 230%. The changes between the revisions highlight the fluctuations in property values over the years, with the most significant increase occurring from 2007 to 2012.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Bajanai Koil Street's 2024 figure below that median.

• Arcot Pattai 2nd Street: Rs 3,300 per sq.ft (2024)
• Arcot pattai 1st Street: Rs 3,300 per sq.ft (2024)
• Burma Colony: Rs 2,200 per sq.ft (2024)
• Ambethkar Street: Rs 2,200 per sq.ft (2024)
• Deffence Officers Colony: Rs 6,600 per sq.ft (2024)
• Deffence Officers Colony Main Road: Rs 6,600 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 would be Rs 33,00,000. The stamp duty at 7% would amount to 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 the duty is charged on the higher of the guideline value or the sale price. You can 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from 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 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Nandhambakkam with their guideline values?

Other streets in Nandhambakkam include Arcot Pattai 2nd Street and Arcot Pattai 1st Street, both at Rs 3,300 per sq.ft, and Burma Colony and Ambethkar Street at Rs 2,200 per sq.ft.

What is the stamp duty for property in Bajanai Koil Street?

The stamp duty for a property in Bajanai Koil Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000.

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

The Sub Registrar Office for Bajanai Koil Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.