Guideline Value for Bajanai koil Street

Bajanai koil Street guideline value

The current guideline value of Bajanai koil Street is Rs 2,450 per sq.ft, effective from 1 July 2024. This street is located in Moulivakkam village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Bajanai koil Street has changed

The guideline value for Bajanai koil Street has seen several revisions over the years. In 2003, the guideline value was Rs 160 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. Following this, the value rose to Rs 2,200 per sq.ft in 2012, but then dropped to Rs 1,474 per sq.ft in 2017. The value saw a substantial increase to Rs 2,200 per sq.ft in 2023, and it has now reached Rs 2,450 per sq.ft in the 2024 revision.

Specifically, the changes between revisions are notable: from 2003 to 2007, there was an increase of 525%; from 2007 to 2012, it decreased by 33%; then, from 2012 to 2017, it dropped again by 33%. However, from 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 11%. The overall change from 2003 to 2024 is an increase of 1431%. The register has no figure for the year 2002 for this street.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft, with the median being Rs 2,450 per sq.ft. Bajanai koil Street's 2024 figure matches this median value.

• Annamalai Avenue: Rs 3,000 per sq.ft (2024)
• Bharathiyar Nagar: Rs 2,450 per sq.ft (2024)
• Chandramouleeswarar Nagar: Rs 2,450 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Dhanalakshmi Nagar Extension: Rs 2,450 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,450 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,450 per sq.ft, the guideline value amounts to Rs 24,50,000. The stamp duty at 7% would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, totaling Rs 2,20,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bajanai koil Street?

The Sub Registrar Office that covers Bajanai koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Moulivakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer approaches the registration office, the guideline value will be checked against the sale price. The higher of the two figures will be used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Bajanai koil Street?

The current guideline value of Bajanai koil Street is Rs 2,450 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 160 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, reflecting an overall increase of 1431% over the years.

What is the land classification for Bajanai koil Street?

Bajanai koil Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the registration office for Bajanai koil Street?

The registration office for Bajanai koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Moulivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property with a guideline value of Rs 24,50,000 would incur a stamp duty of Rs 1,71,500 at a rate of 7%.