Guideline Value for Bajanai Kovil Street

Bajanai Kovil Street guideline value

The current guideline value of Bajanai Kovil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class II 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 guideline value was Rs 166 per sq.ft, which increased to Rs 179 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, and further increased to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017, before climbing back to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft.

In terms of percentage changes, the guideline value increased by 7% from 2023 to 2024. The period from 2017 to 2023 saw a significant increase of 49%. The value decreased by 33% from 2012 to 2017, while it rose by 200% from 2007 to 2012. Between 2003 and 2007, the increase was 179%, and from 2002 to 2003, it was 8%. Overall, from 2002 to 2024, the guideline value has increased by 864%.

Guideline values in Oragadam

Oragadam village has a total of 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Bajanai Kovil Street below this median.

• Bakthavatchalam Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Bakthavatchalam Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Bakyalakshmi Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakyam Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakya Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bagthavachalam Street (V.L.Puram): Rs 2,400 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 rate, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making a total of Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 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 information.

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

The guideline value is an essential factor in property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will require adherence to the guideline value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Bajanai Kovil Street?

The current guideline value of Bajanai Kovil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 166 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 864%.

What is the land classification for Bajanai Kovil Street?

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

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registrations for Bajanai Kovil Street?

The Ambattur Sub Registrar Office handles property registrations for Bajanai Kovil Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.