Guideline Value for Bajanaikovil Street

Bajanaikovil Street guideline value

The current guideline value of Bajanaikovil Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bajanaikovil Street has changed

The guideline value for Bajanaikovil Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 78 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a change of +321%. By 2012, the value rose to Rs 1,200 per sq.ft, which represented a substantial increase of +266%. However, in 2017, the value dropped to Rs 804 per sq.ft, showing a decrease of -33%. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value has been carried into the 2024 revision, resulting in no percentage change from 2023 to 2024.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +1438%. It is important to note that there is no figure available for Bajanaikovil Street in the 2003 revision.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, positioning Bajanaikovil Street's 2024 figure below this median.

• Balaji Avenue: Rs 1,500 per sq.ft (2024)
• Balaji Avenue Extn.: Rs 1,500 per sq.ft (2024)
• Balaji Nagar: Rs 1,500 per sq.ft (2024)
• Bagavathi Nagar: Rs 1,200 per sq.ft (2024)
• Bharath Avenue: Rs 1,200 per sq.ft (2024)
• Balasubramaniyam Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanaikovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total fees would be Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanaikovil Street?

The Sub Registrar Office that covers Bajanaikovil Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions in Nandhivaram. It serves as a reference point for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be paid during the transaction process. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bajanaikovil Street?

The current guideline value of Bajanaikovil Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bajanaikovil Street has changed from Rs 78 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, representing an overall increase of +1438%.

What are the other streets in Nandhivaram with similar guideline values?

Other streets in Nandhivaram include Balaji Avenue, Balaji Avenue Extn., Balaji Nagar, Bagavathi Nagar, Bharath Avenue, and Balasubramaniyam Nagar, with values ranging from Rs 1,200 to Rs 1,500 per sq.ft in 2024.

What fees are associated with buying property in Bajanaikovil Street?

When buying property in Bajanaikovil Street, buyers need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bajanaikovil Street?

The Sub Registrar Office for Bajanaikovil Street is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.