Guideline Value for Bajani Koil Street

Bajani Koil Street guideline value

The current guideline value of Bajani Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village and falls under the Pallavaram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bajani Koil Street has changed

The guideline value for Bajani Koil Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, but then decreased to Rs 670 per sq.ft in 2017. The 2023 revision raised it back to Rs 1,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,100 per sq.ft.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 400%. However, from 2012 to 2017, the value dropped by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 450%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, placing Bajani Koil Street's 2024 figure below that median.

• Chennai Harbour Officers Colony 1 To 4 Streets: Rs 1,940 per sq.ft (2024)
• Amman Nagar Highway Salai: Rs 2,200 per sq.ft (2024)
• Amman Nagar 1 To 12 Streets: Rs 2,200 per sq.ft (2024)
• Amman Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Dharga Road: Rs 1,940 per sq.ft (2024)
• Easwaran Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bajani 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 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 more details.

Which Sub Registrar Office covers Bajani Koil Street?

Bajani Koil Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirusulam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bajani Koil Street?

The current guideline value of Bajani Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification for Bajani Koil Street?

Bajani Koil Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Which Sub Registrar Office handles transactions for Bajani Koil Street?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, handles all transactions for Bajani Koil Street.

How is stamp duty calculated for property transactions in Thirusulam?

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