Guideline Value for Bajanai Koil street

Bajanai Koil street guideline value

The current guideline value of Bajanai Koil street in Sembiam village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Bajanai Koil street has changed

Since the year 2002, the guideline value for Bajanai Koil street has undergone several revisions. In 2002, the value was Rs 294 per sq.ft, which increased to Rs 319 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, the increase was +9%. The value then surged by +119% from 2003 to 2007. In contrast, the value decreased by -33% from 2012 to 2017. The most recent changes reflect an increase of +49% from 2017 to 2023 and a further rise of +8% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +818%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Bajanai Koil street.

• Badham Street: Rs 2,700 per sq.ft (2024)
• Azath Street: Rs 2,700 per sq.ft (2024)
• Ayyavu Grammi Street: Rs 2,700 per sq.ft (2024)
• Balaji street: Rs 2,700 per sq.ft (2024)
• Ashok Street: Rs 2,700 per sq.ft (2024)
• Balamurugan Street: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. 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?

Bajanai Koil street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is registered, the guideline value is used to assess the applicable fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Bajanai Koil street?

The current guideline value of Bajanai Koil street is Rs 2,700 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 294 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +818% over this period.

What is the land classification for Bajanai Koil street?

Bajanai Koil street is classified under Residential Class I Type - I, indicating its designation for residential use.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

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

The Sub Registrar Office covering Bajanai Koil street is located at 5, Papermills Road, Sembiam, Chennai - 600011.