Guideline Value for Bajanai Kovil Street

Bajanai Kovil Street guideline value

The current guideline value of Bajanai Kovil Street in Naravarikuppam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Bajanai Kovil Street has changed

The guideline value for Bajanai Kovil Street has seen several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which then decreased significantly to Rs 353 per sq.ft in 2003. The value increased to Rs 600 per sq.ft in 2007, followed by a substantial rise to Rs 2,000 per sq.ft in 2012. However, it dropped again to Rs 1,340 per sq.ft in 2017. The next revision in 2023 saw the value increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft.

Between the revisions, there have been notable changes. From 2002 to 2003, the value decreased by 90%. The value then increased by 70% from 2003 to 2007, followed by a 233% rise from 2007 to 2012. The value saw a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. Finally, from 2023 to 2024, the guideline value increased by 10%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median for these streets is Rs 1,650 per sq.ft, placing Bajanai Kovil Street's 2024 figure above that median.

• Bajanai Koil Street Lane: Rs 2,200 per sq.ft (2024)
• Aruljothi Vallalar Nagar: Rs 2,200 per sq.ft (2024)
• Arignar Anna Street (Park Street): Rs 1,870 per sq.ft (2024)
• Arignar Anna Street Lane: Rs 1,870 per sq.ft (2024)
• Arignar Anna Street: Rs 1,870 per sq.ft (2024)
• Bharathidasanar Street: Rs 1,650 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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?

The Bajanai Kovil Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

When buying or selling property in Naravarikuppam, the guideline value plays a crucial role during the registration process. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they are compliant with the legal requirements during property transactions. This value is updated periodically, reflecting changes in the market and local conditions.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street?

The current guideline value of Bajanai Kovil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Naravarikuppam?

The median guideline value for streets in Naravarikuppam is Rs 1,650 per sq.ft, with Bajanai Kovil Street's value being above this median.

What are the stamp duty and registration fees for Bajanai Kovil Street?

For a 1,000 sq.ft plot at the current guideline value, the total registration fees would be Rs 1,98,000, which includes a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which office handles the registration for Bajanai Kovil Street?

The registration for Bajanai Kovil Street is handled by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.