Guideline Value for Bajanai koil street

Bajanai koil street guideline value

The current guideline value of Bajanai koil street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Bajanai koil street has changed

Over the years, the guideline value for Bajanai koil street has seen several revisions. The most recent figures are as follows: in 2012, the value was Rs 400 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision showed a decrease to Rs 268 per sq.ft, marking a -33% change from 2012. However, from 2017 to 2023, there was a significant increase of +49%, bringing the value back to Rs 400 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that there are no recorded figures for Bajanai koil street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained stable with a total change of +0%.

Guideline values in Somangalam

In Somangalam village, there are 86 streets that have a guideline value for 2024, ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Bajanai koil street's 2024 figure of Rs 400 per sq.ft is above this median.

• Ayarpadi: Rs 200 per sq.ft (2024)
• Balaji Nagar: Rs 400 per sq.ft (2024)
• Ashok Nagar: Rs 250 per sq.ft (2024)
• Anna Nagar: Rs 250 per sq.ft (2024)
• Annai Nagar Annex: Rs 150 per sq.ft (2024)
• Annai Nagar: Rs 150 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 guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total cost of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Bajanai koil street?

The Sub Registrar Office that covers Bajanai koil street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Somangalam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and integrity in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bajanai koil street?

The current guideline value of Bajanai koil street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations with a notable increase of +49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023. The value has remained stable at Rs 400 per sq.ft since 2012.

What is the land classification for Bajanai koil street?

Bajanai koil street is classified as Residential Special Type - I, indicating its suitability for residential development.

How is stamp duty calculated for properties in Bajanai koil street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,00,000 incurs a stamp duty of Rs 28,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Bajanai koil street?

The Sub Registrar Office for Bajanai koil street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.