Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value for Bajanai Koil Street in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen several revisions over the years. Starting from Rs 299 per sq.ft in 2002, it increased to Rs 374 per sq.ft in 2003. The value then rose significantly to Rs 800 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017, before climbing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,750 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024, by 49% from 2017 to 2023, and decreased by 33% from 2012 to 2017. The value saw a substantial rise of 213% from 2007 to 2012, and an increase of 114% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 820%. The register has no figure for the years not mentioned.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, indicating that Bajanai Koil Street's 2024 figure is below that median.

• Bajanai Koil Lane: Rs 2,750 per sq.ft (2024)
• Bajar Line Lane: Rs 2,750 per sq.ft (2024)
• Azarkahana Street: Rs 3,300 per sq.ft (2024)
• Azarkahana Cross Street: Rs 3,300 per sq.ft (2024)
• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)
• Ashokan Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. 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 registered, the higher of the guideline value or the sale price 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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 299 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, with various increases and a decrease in between.

What is the land classification of Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Bajanai Koil Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Bajanai Koil Street?

The Chennai South Joint II Sub Registrar Office handles property registrations for Bajanai Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.