Guideline Value for Bajanai Kovil Street

Bajanai Kovil Street guideline value

The current guideline value of Bajanai Kovil Street in Puzhal village, under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Bajanai Kovil Street has changed

The guideline value of Bajanai Kovil Street has seen several revisions since 2002. In 2002, the guideline value was Rs 1,194 per sq.ft, which decreased to Rs 120 per sq.ft in 2003. Following this, the value increased significantly to Rs 300 per sq.ft in 2007, and then to Rs 800 per sq.ft in 2012. However, it dropped to Rs 536 per sq.ft in 2017. The next revision in 2023 saw a substantial increase to Rs 1,000 per sq.ft, culminating in the current value of Rs 1,100 per sq.ft from 2024.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. There was an 87% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it rose by 167% from 2007 to 2012. The increase from 2003 to 2007 was 150%, but there was a significant drop of 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has decreased by 8%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, which means Bajanai Kovil Street's 2024 figure is below that median.

• Azhagiri Street: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Extension-1: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part-3: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part I: Rs 1,100 per sq.ft (2024)
• Ashok Nagar: Rs 1,650 per sq.ft (2024)
• Bharathidasan 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bajanai Kovil Street?

The Sub Registrar Office that covers Bajanai Kovil Street is 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 information.

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

The guideline value is crucial during the registration process of property transactions in Puzhal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for taxation purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street?

The current guideline value of Bajanai Kovil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,194 per sq.ft in 2002, dropping to Rs 120 per sq.ft in 2003, and reaching Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, resulting in a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Bajanai Kovil Street?

The Redhills Sub Registrar Office handles registrations for Bajanai Kovil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the appropriate taxes are paid to the government.