Guideline Value for Bajanai koil street

Bajanai koil street guideline value

The current guideline value of Bajanai koil street in Madavilagam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Bajanai koil street has changed

The guideline value for Bajanai koil street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 300%. However, it then decreased to Rs 670 per sq.ft in 2017, which was a decrease of 33%. The value saw a substantial increase to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, which aligns with the guideline value of Bajanai koil street.

• ARK Vigneshwarar: Rs 1,100 per sq.ft (2024)
• Board school kootroad 169/1: Rs 1,100 per sq.ft (2024)
• Board school kootroad 169/2: Rs 1,100 per sq.ft (2024)
• Chennai Bangalore High Road: Rs 2,200 per sq.ft (2024)
• Gangaikondan mandappa veethi 169/1,2: Rs 1,100 per sq.ft (2024)
• Industrial Estate 113/2: Rs 2,200 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to 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 precise calculations.

Which Sub Registrar Office covers Bajanai koil street?

The Sub Registrar Office that covers Bajanai koil street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madavilagam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bajanai koil street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the registration office for Bajanai koil street?

The registration office for Bajanai koil street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Madavilagam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.

What is the land classification for Bajanai koil street?

Bajanai koil street is classified as Residential Class I Type - I, which indicates its suitability for residential development.