Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street in Sembulivaram village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office (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 undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 600 per sq.ft. In 2012, it increased to Rs 1,100 per sq.ft, but then saw a decrease to Rs 737 per sq.ft in 2017. The value rose significantly to Rs 1,100 per sq.ft in 2023, and in the latest revision for 2024, it stands at Rs 1,210 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003.

Between these revisions, the changes were as follows: from 2007 to 2012, there was an increase of 83%; however, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 102%.

Guideline values in Sembulivaram

In Sembulivaram, there are 16 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, which is the same as the guideline value for Bajanai Koil Street. Below are the guideline values for other streets in Sembulivaram:

• Azhagathamman Street: Rs 1,210 per sq.ft (2024)
• Azhagathamman Nagar: Rs 1,210 per sq.ft (2024)
• Chengalamman Nagar: Rs 1,650 per sq.ft (2024)
• Daffodil Garden: Rs 1,210 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,210 per sq.ft (2024)
• Gnt Road: 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. It is important to note that the 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 information.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembulivaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the government receives the appropriate revenue from the transaction. It is essential for both parties to understand the implications of the guideline value on their financial obligations during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 102% over the years.

What is the land classification for Bajanai Koil Street?

Bajanai Koil Street is classified as Residential Class I Type - I under the Redhills SRO.

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

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700, and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which office handles property registrations for Bajanai Koil Street?

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