Guideline Value for Bajanai Kovil Street (colony)

Bajanai Kovil Street (colony) guideline value

The current guideline value of Bajanai Kovil Street (colony) is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vattampakkam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bajanai Kovil Street (colony) has changed

The guideline value for Bajanai Kovil Street (colony) has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following that, the 2023 revision brought the value back to Rs 200 per sq.ft, and the current 2024 revision maintains this figure, showing no change from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, the guideline value from 2012 to 2024 has remained the same at Rs 200 per sq.ft.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,790 per sq.ft. The median value among these streets is Rs 250 per sq.ft, placing Bajanai Kovil Street (colony) below this median.

• Ambethkar 1st Street (colony): Rs 200 per sq.ft (2024)
• Ambethkar 1Ist Street (colony): Rs 200 per sq.ft (2024)
• Alwar ThiruNagr: Rs 500 per sq.ft (2024)
• ABI Century Square I & II: Rs 426 per sq.ft (2024)
• Ellaiamman Kovil Street: Rs 200 per sq.ft (2024)
• Gangaiamman Kovil Street (colony): Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Kovil Street (colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Kovil Street (colony)?

The Sub Registrar Office that covers Bajanai Kovil Street (colony) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vattampakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer and seller agree on a sale price, the stamp duty and registration fees are calculated based on the higher value between the guideline value and the agreed sale price. This ensures that the transaction is legally compliant and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street (colony)?

The current guideline value of Bajanai Kovil Street (colony) is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Bajanai Kovil Street (colony)?

Bajanai Kovil Street (colony) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Which office handles registrations for Bajanai Kovil Street (colony)?

The Sunguvarchattram Sub Registrar Office handles registrations for Bajanai Kovil Street (colony), located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vattampakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.