Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street in Malligaicherry village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Konnur 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 seen several revisions over the years. In 2002, the guideline value was Rs 311 per sq.ft. This increased to Rs 336 per sq.ft in 2003, marking an 8% rise. The value then saw a significant increase to Rs 700 per sq.ft in 2007, which was a 108% jump. Following this, the value rose dramatically to Rs 2,500 per sq.ft in 2012, reflecting a 257% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years between the revisions mentioned. Overall, from 2002 to 2024, the guideline value has increased by 784%.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Bajanai Koil Street's 2024 figure above this median.

• Bajanai Koil Second Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil First Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil Third Street: Rs 2,400 per sq.ft (2024)
• Dhanthoniammain Koil Lane: Rs 2,200 per sq.ft (2024)
• Dhanthoniammain Koil Street: Rs 3,000 per sq.ft (2024)
• Dhanthoniamman Koil Extension 1 to 4 Street: Rs 2,200 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 rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and 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 Bajanai Koil Street is covered by the Konnur Sub Registrar Office located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Malligaicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in the transaction process.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

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, with the most recent increase of 10% from Rs 2,500 per sq.ft in 2023 to Rs 2,750 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.

Where can I find the registration office for Bajanai Koil Street?

The registration office for Bajanai Koil Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Bajanai Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.