Guideline Value for Bajanai Kovil Street

Bajanai Kovil Street guideline value

The current guideline value of Bajanai Kovil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of Bajanai Kovil Street has changed

The guideline value for Bajanai Kovil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. The value then increased to Rs 1,600 per sq.ft in 2023, before reaching the current rate of Rs 1,700 per sq.ft in 2024.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 6%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, making the guideline value of Bajanai Kovil Street above this median.

• Arul Nagar: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar(10th Street): Rs 1,100 per sq.ft (2024)
• Bharathidasan Nagar(11th Street): Rs 1,100 per sq.ft (2024)
• Bharathidasan Nagar(12th Street): Rs 1,100 per sq.ft (2024)
• Bharathidasan Nagar(13th Street): Rs 1,100 per sq.ft (2024)
• Bharathidasan Nagar(14th Street): Rs 1,100 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. 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 Kovil Street?

Bajanai Kovil Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Soorapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value helps ensure that the transaction is registered at a value that reflects the current market conditions, thereby facilitating a fair process for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street?

The current guideline value of Bajanai Kovil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bajanai Kovil Street?

Bajanai Kovil Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

Which office handles registrations for properties in Soorapattu?

The Ambattur Sub Registrar Office handles registrations for properties in Soorapattu, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How is the stamp duty calculated for properties in Bajanai Kovil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000.