Guideline Value for Bajani Kovil Street

Bajani Kovil Street guideline value

The current guideline value of Bajani Kovil Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Bajani Kovil Street has changed

The guideline value for Bajani Kovil Street has seen several revisions over the years. In 2007, the guideline value was Rs 160 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 1,025%. However, this value decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, a 24% increase, and finally reached Rs 1,980 per sq.ft in 2024, which is a 32% increase from the previous year.

It is important to note that the register has no figures for Bajani Kovil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1,138%.

Guideline values in Thiruvancheri

In Thiruvancheri village, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Bajani Kovil Street.

• Babu Jaga Jeevaram Street: Rs 1,980 per sq.ft (2024)
• Bharathi Dasan Street: Rs 1,980 per sq.ft (2024)
• Bharathiyar Street: Rs 1,980 per sq.ft (2024)
• Bhavani Nagar: Rs 1,980 per sq.ft (2024)
• Anna Street: Rs 2,530 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bajani Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bajani Kovil Street?

The Sub Registrar Office that covers Bajani Kovil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers should be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Bajani Kovil Street?

The current guideline value of Bajani Kovil Street is Rs 1,980 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 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1,138%.

What are the stamp duty and registration fees for properties in Bajani Kovil Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Bajani Kovil Street?

The Pallavaram Sub Registrar Office handles registrations for Bajani Kovil Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which impacts the stamp duty and registration fees payable during a transaction. It ensures that the government receives the correct fees based on the property's value.