Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village under the Redhills SRO, classified as Residential Class II Type - I.

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 earliest recorded value was Rs 102 per sq.ft in 2003, which increased significantly to Rs 300 per sq.ft in 2007, marking a 194% rise. In 2012, the value remained at Rs 600 per sq.ft, but it dropped by 33% to Rs 402 per sq.ft in 2017. The value then saw a substantial increase to Rs 600 per sq.ft in 2023, followed by a further rise of 10% to the current rate of Rs 660 per sq.ft in 2024.

It is important to note that there is no figure available for Bajanai Koil Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 547%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that Bajanai Koil Street's 2024 figure is below the median.

• Balaganesan Street: Rs 770 per sq.ft (2024)
• Avvaiyar Street: Rs 770 per sq.ft (2024)
• Athithanar Street: Rs 770 per sq.ft (2024)
• Balaji Nagar Part-II: Rs 1,320 per sq.ft (2024)
• Balasubramaniam Nagar: Rs 770 per sq.ft (2024)
• Ashoka Street: Rs 770 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is essential to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office covering Bajanai Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is utilized to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of the transaction. This process helps maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 102 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, showing significant increases and a few decreases over the years.

What is the median guideline value in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, which is higher than the current value of Bajanai Koil Street.

What are the registration fees for properties on Bajanai Koil Street?

The registration fees for properties on Bajanai Koil Street include a stamp duty of 7% and a registration fee of 2%, calculated on the higher of the guideline value or the sale price.

Which office handles registrations for Bajanai Koil Street?

The Redhills Sub Registrar Office is responsible for handling registrations for Bajanai Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.