Guideline Value for Bajanai Koil Street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, 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 2003, the guideline value was Rs 920 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 30%. The value then surged to Rs 4,000 per sq.ft in 2012, an increase of 233%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

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 378%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Bajanai Koil Street.

• Bajanai Koil Lane: Rs 6,600 per sq.ft (2024)
• Baksar Street: Rs 8,800 per sq.ft (2024)
• Baganathan Lane: Rs 3,800 per sq.ft (2024)
• Badri Veerasamy Street: Rs 4,400 per sq.ft (2024)
• Badrian Street: Rs 8,800 per sq.ft (2024)
• Ayya Pillai Street: Rs 8,800 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Muthiyalpet. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value helps in establishing the minimum value for which the property can be sold. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the property's guideline value.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 378%.

What are the stamp duty rates for properties in Bajanai Koil Street?

The stamp duty rate for properties in Bajanai Koil Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Bajanai Koil Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Bajanai Koil Street.