Guideline Value for Bajnai koil street

Bajnai koil street guideline value

The current guideline value of Bajnai koil street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bajnai koil street has changed

Over the years, the guideline value for Bajnai koil street has seen significant changes. The 2007 revision recorded a guideline value of Rs 400 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012. This marked a substantial rise of 400%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The guideline value rose again to Rs 2,000 per sq.ft in 2023, and then reached the current rate of Rs 2,200 per sq.ft in 2024, an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 450%. The value changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showcasing the fluctuations in property values over the years.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of Bajnai koil street.

• Avadi road: Rs 2,740 per sq.ft (2024)
• Astalakshmi nagar: Rs 2,200 per sq.ft (2024)
• A.S.R Rasi Garden: Rs 2,210 per sq.ft (2024)
• Balaraman Nagar: Rs 2,200 per sq.ft (2024)
• Balaraman Nagar Annex: Rs 1,980 per sq.ft (2024)
• Ashtalakshmi nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bajnai koil street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that 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 Bajnai koil street?

The Sub Registrar Office that covers Bajnai 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to the current guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the fees reflect the true value of the transaction. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Bajnai koil street?

The current guideline value of Bajnai koil street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What is the land classification for Bajnai koil street?

Bajnai koil street is classified as Residential Class II Type - I under the Poonamallee SRO.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Bajnai koil street?

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 22,00,000, the stamp duty at 7% would be Rs 1,54,000.