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 Sholavaram 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 seen significant changes over the years. In 2003, the value was Rs 70 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a 329% rise. The value then doubled to Rs 600 per sq.ft in 2012, but saw a decrease of 33% to Rs 402 per sq.ft in 2017. The 2023 revision set the guideline value at Rs 600 per sq.ft, which then increased by 10% to Rs 660 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 843%. It is important to note that the register has no figure for Bajanai Koil Street in 2002.

Guideline values in Sholavaram

In Sholavaram village, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with the median being Rs 660 per sq.ft. Bajanai Koil Street's 2024 figure aligns with this median.

• At FUTURE CITY: Rs 550 per sq.ft (2024)
• Asokar Street: Rs 550 per sq.ft (2024)
• Balamurugan Nagar: Rs 550 per sq.ft (2024)
• Bala Murugan Nagar Annex: Rs 550 per sq.ft (2024)
• Balamurugan Nagar Extention: Rs 770 per sq.ft (2024)
• Balasubramaniyam Nagar: Rs 550 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or 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 that covers 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 more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sholavaram. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. The guideline value ensures that the property is registered at a fair value as determined by the government.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the revenue collected by the government reflects the true value of the property being transferred.

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 significantly from Rs 70 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, showing an overall increase of 843% over this period.

What is the land classification of Bajanai Koil Street?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Where is the Sub Registrar Office located for Bajanai Koil Street?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.