Guideline Value for Colony Bajanai Kovil Street

Colony Bajanai Kovil Street guideline value

The current guideline value of Colony Bajanai Kovil Street is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Colony Bajanai Kovil Street has changed

Over the years, the guideline value for Colony Bajanai Kovil Street has seen significant changes. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the guideline value at Rs 150 per sq.ft, which increased to Rs 275 per sq.ft in the 2024 revision, marking an increase of 83%.

Prior to the 2023 revision, the last recorded value was not available for this street, indicating a lack of consistent valuation in earlier years. The substantial jump from Rs 150 to Rs 275 per sq.ft reflects the latest adjustments made by the Registration Department.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, making the guideline value of Colony Bajanai Kovil Street below this median.

• Colony Kizhandai Street: Rs 200 per sq.ft (2024)
• Colony Melandai Street: Rs 200 per sq.ft (2024)
• Colony Vembulliamman Kovil Street: Rs 200 per sq.ft (2024)
• ETA Florence Garden: Rs 500 per sq.ft (2024)
• Bangalore Main Road: Rs 1,250 per sq.ft (2024)
• Florence Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Bajanai Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total fees together to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Colony Bajanai Kovil Street?

The Sub Registrar Office that covers Colony Bajanai Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is a key factor in calculating these costs.

When a property is sold, the guideline value ensures that the sale price is in alignment with the official valuation set by the Registration Department. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Colony Bajanai Kovil Street?

The current guideline value of Colony Bajanai Kovil Street is Rs 275 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 83% from Rs 150 per sq.ft in 2023 to Rs 275 per sq.ft in 2024.

What is the registration office for Colony Bajanai Kovil Street?

The registration office for Colony Bajanai Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What is the median guideline value for streets in Mambakkam?

The median guideline value for streets in Mambakkam is Rs 305 per sq.ft, while Colony Bajanai Kovil Street's value is below this median.

How is stamp duty calculated for properties in Mambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 2,75,000 would incur a stamp duty of Rs 19,250 at 7%.