Guideline Value for Bhajanai Koil Street

Bhajanai Koil Street guideline value

The current guideline value of Bhajanai Koil Street in Alamathi village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special Type - II.

How the guideline value of Bhajanai Koil Street has changed

The guideline value for Bhajanai Koil Street has seen significant changes over the years. The earliest recorded figure is from 2003, where it stood at Rs 53 per sq.ft. This value increased dramatically to Rs 400 per sq.ft in 2007, marking a rise of 655%. In 2012, the value rose to Rs 900 per sq.ft, reflecting a 125% increase. However, it dropped to Rs 603 per sq.ft in 2017, which was a decrease of 33%. The value then increased to Rs 900 per sq.ft in 2023, showing a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 990 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no recorded figure for Bhajanai Koil Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1,768%.

Guideline values in Alamathi

In Alamathi village, there are 54 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft. The median value for these streets is Rs 550 per sq.ft, positioning Bhajanai Koil Street's 2024 figure above this median.

• Bharathiar Street: Rs 990 per sq.ft (2024)
• Balasubramanian Nagar: Rs 770 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 550 per sq.ft (2024)
• B.K. Garden: Rs 550 per sq.ft (2024)
• Bakiyalakshmi Nagar: Rs 660 per sq.ft (2024)
• Edapalayam Road: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Bhajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the 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 details.

Which Sub Registrar Office covers Bhajanai Koil Street?

The Sub Registrar Office that covers Bhajanai Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Alamathi. 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 based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property being transacted. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bhajanai Koil Street?

The current guideline value of Bhajanai Koil Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 53 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, representing an overall increase of 1,768%.

What are the stamp duty and registration fees for property in Bhajanai Koil Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees amount to Rs 89,100.

Which Sub Registrar Office covers Bhajanai Koil Street?

The Redhills Sub Registrar Office covers Bhajanai Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Bhajanai Koil Street?

Bhajanai Koil Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.