Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street, located in Menambedu village under the Ambattur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,001 per sq.ft, which is an increase from Rs 1,000 per sq.ft in 2023. Notably, there was no change in the guideline value from 2023 to 2024, maintaining the same rate.

Looking back further, the guideline value was Rs 536 per sq.ft in 2017, which reflects a significant increase of 87% to reach the 2023 figure. In contrast, the value decreased by 33% from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 25%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Bajanai Koil Street's current value below this median.

• Balakrishnan Street: Rs 1,700 per sq.ft (2024)
• Bala Vinayagar 1st CrossStreet: Rs 1,700 per sq.ft (2024)
• Bala Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Banu Street: Rs 1,700 per sq.ft (2024)
• Arasigara Street: Rs 1,001 per sq.ft (2024)
• Anna Street (Elango Nagar): Rs 1,700 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 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, while the registration fee at 2% would be Rs 20,020, leading to a total of Rs 90,090. 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 detailed calculations.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Menambedu, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any unexpected costs.

When a property is registered, the guideline value is used to calculate the applicable taxes. It is essential for both parties involved in a transaction to understand that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that all financial obligations are met accurately.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 25% over this period.

What is the land classification for Bajanai Koil Street?

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

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

The Sub Registrar Office for Bajanai Koil Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Menambedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, if the guideline value is Rs 10,01,000, the stamp duty at 7% would be Rs 70,070.