Guideline Value for Bajanai Koil Third Street

Bajanai Koil Third Street guideline value

The current guideline value of Bajanai Koil Third Street is Rs 2,400 per sq.ft. This street is located in Malligaicherry village under the Konnur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Bajanai Koil Third Street has changed

The guideline value for Bajanai Koil Third Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 283 per sq.ft. This increased to Rs 306 per sq.ft in 2003, marking an 8% increase. The value continued to rise significantly, reaching Rs 700 per sq.ft in 2007, which was a 129% increase from the previous revision. By 2012, the value was Rs 2,250 per sq.ft, reflecting a substantial 221% increase from 2007. However, this value then decreased by 33% to Rs 1,507 per sq.ft in 2017.

In the subsequent revisions, the guideline value saw a notable increase. The 2023 revision set the value at Rs 2,250 per sq.ft, which then rose by 7% to the current value of Rs 2,400 per sq.ft effective from 1 July 2024. Overall, from 2002 to 2024, the guideline value has increased by 748%.

Guideline values in Malligaicherry

Malligaicherry village has a total of 49 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is the same as the current guideline value for Bajanai Koil Third Street.

• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Second Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil First Street: Rs 2,400 per sq.ft (2024)
• Dhanthoniammain Koil Lane: Rs 2,200 per sq.ft (2024)
• Dhanthoniammain Koil Street: Rs 3,000 per sq.ft (2024)
• Dhanthoniamman Koil Extension 1 to 4 Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Third Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty is charged at 7%, which totals Rs 1,68,000, and the registration fee is 2%, amounting to Rs 48,000. Together, the total cost for these fees is Rs 2,16,000. 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 Third Street?

The Sub Registrar Office that covers Bajanai Koil Third Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Malligaicherry. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the buyer and seller must adhere to the guideline value to determine the applicable fees. This ensures transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Bajanai Koil Third Street?

The current guideline value of Bajanai Koil Third Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 283 per sq.ft in 2002 to the current value of Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 748%.

What is the land classification for Bajanai Koil Third Street?

Bajanai Koil Third Street falls under the Residential Class II Type - I land classification.

Where can I find information about other streets in Malligaicherry?

Information about other streets in Malligaicherry can be found by checking the guideline values for those specific streets, which vary between Rs 2,200 and Rs 6,000 per sq.ft.

What fees are associated with buying property in Bajanai Koil Third Street?

When buying property, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.