Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, the changes between revisions show a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is also the current guideline value for Bajanai Koil Street.

• Balaji Nagar: Rs 1,650 per sq.ft (2024)
• Athivaradar Avenue Extension: Rs 3,700 per sq.ft (2024)
• Athivaradar Avenue: Rs 3,700 per sq.ft (2024)
• Astalakshmi Nagar Extn I and II: Rs 1,650 per sq.ft (2024)
• Astalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Balaji Nagar Phase I and II: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office covering Bajanai Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor during property registration in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation as per government norms.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value for Bajanai Koil Street?

The current guideline value for Bajanai Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Special Type - II under the Padappai SRO.

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

The Sub Registrar Office for Bajanai Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.