Guideline Value for Bajanai Kovil Street

Bajanai Kovil Street guideline value

The current guideline value of Bajanai Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Selvazhimagalam village under the Sunguvarchattram SRO, classified as Residential Class II Type - I.

How the guideline value of Bajanai Kovil Street has changed

Over the years, the guideline value of Bajanai Kovil Street has seen several revisions. The most recent revision in 2024 maintains the value at Rs 200 per sq.ft, which is unchanged from the 2023 revision. The 2017 revision recorded a value of Rs 134 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. Prior to that, in 2012, the guideline value was Rs 200 per sq.ft, which indicates a decrease of 33% to the 2017 figure. The register has no figures for the years 2002, 2003, and 2007.

Overall, comparing the figures from 2012 to 2024, there has been no change, as the 2024 figure aligns with the 2012 value of Rs 200 per sq.ft. The guideline values have remained stable in recent years, particularly from 2023 to 2024, where the value saw no increase.

Guideline values in Selvazhimagalam

In Selvazhimagalam, there are 11 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 126 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Bajanai Kovil Street.

• Bharathiyar Street: Rs 200 per sq.ft (2024)
• Chennai Bangalore Main Road: Rs 500 per sq.ft (2024)
• Amman Kovil Street: Rs 200 per sq.ft (2024)
• Jambodai Kurukku Street: Rs 300 per sq.ft (2024)
• Jambodai Street: Rs 300 per sq.ft (2024)
• Kodi Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Kovil Street

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bajanai Kovil Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Selvazhimagalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both buyers and sellers must consider the guideline value as it affects the overall transaction costs. It is essential to verify the guideline value before proceeding with any real estate transaction to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street?

The current guideline value of Bajanai Kovil Street 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 from 2012 to 2024, with an increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and no change from 2023 to 2024.

What is the classification of Bajanai Kovil Street?

Bajanai Kovil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Bajanai Kovil Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price.