Guideline Value for Bajar Line Lane

Bajar Line Lane guideline value

The current guideline value of Bajar Line Lane in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Bajar Line Lane has changed

The guideline value of Bajar Line Lane has undergone several revisions over the years. In 2002, the value was Rs 426 per sq.ft. This increased to Rs 533 per sq.ft in 2003, marking a 25% rise. The value then saw a significant jump to Rs 1,100 per sq.ft in 2007, which was an increase of 106%. By 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of 33%. In 2017, it rose again to Rs 1,675 per sq.ft, which was an increase of 49%. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and the current value for 2024 is Rs 2,750 per sq.ft, showing a 10% increase from the previous year.

There are no figures available for the years between these revisions for Bajar Line Lane. Overall, from 2002 to 2024, the guideline value has increased by 546%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Bajar Line Lane is below this median.

• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Lane: Rs 2,750 per sq.ft (2024)
• Azarkahana Street: Rs 3,300 per sq.ft (2024)
• Azarkahana Cross Street: Rs 3,300 per sq.ft (2024)
• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)
• Ashokan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bajar Line Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees total Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bajar Line Lane?

The Sub Registrar Office that covers Bajar Line Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Parangimalai. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on this value.

When buying or selling property, the guideline value ensures that the transaction is documented at a recognized value, which is essential for legal and tax purposes. It is important to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bajar Line Lane?

The current guideline value of Bajar Line Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 426 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 546% over this period.

What is the classification of land on Bajar Line Lane?

Bajar Line Lane is classified as Residential Class III Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for a property on Bajar Line Lane?

The total stamp duty for a property valued at Rs 27,50,000 would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find the Sub Registrar Office for Bajar Line Lane?

The Sub Registrar Office for Bajar Line Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.