Guideline Value for bajanai koil street

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Udaiyavarkoil village, under the Poonamallee SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bajanai Koil Street has changed

Over the years, the guideline value of Bajanai Koil Street has seen significant changes. The register shows that in 2003, the guideline value was Rs 72 per sq.ft. This increased to Rs 100 per sq.ft in 2007, marking a rise of 39%. In 2012, the value rose to Rs 500 per sq.ft, reflecting a substantial increase of 400%. However, in 2017, it decreased to Rs 335 per sq.ft, a drop of 33%. The value then increased to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 550 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 664%, demonstrating considerable growth over the years. The guideline values during the revisions were as follows: Rs 72 in 2003, Rs 100 in 2007, Rs 500 in 2012, Rs 335 in 2017, Rs 500 in 2023, and finally Rs 550 in 2024.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,400 per sq.ft. The median guideline value is Rs 550 per sq.ft, which is equal to the current value of Bajanai Koil Street.

• Athavan nagar: Rs 825 per sq.ft (2024)
• Astalakshmi nagar: Rs 550 per sq.ft (2024)
• A.S.P.Avenue: Rs 1,000 per sq.ft (2024)
• A.R.K.விக்னேஷ்வரா நகர்: Rs 1,000 per sq.ft (2024)
• Arivoli nagar: Rs 550 per sq.ft (2024)
• Annai Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai 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 Udaiyavarkoil

The guideline value is a crucial factor when registering property transactions in Udaiyavarkoil. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during registration.

When a property is sold or purchased, the guideline value helps in calculating the total costs involved in the transaction. This includes the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher. Understanding the guideline value is essential for both buyers and sellers to navigate the registration process smoothly.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 72 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, which is an overall increase of 664% over this period.

What are the stamp duty rates for properties in Bajanai Koil Street?

The stamp duty for properties in Bajanai Koil Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bajanai Koil Street located?

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

How is the guideline value determined for properties in Udaiyavarkoil?

The guideline value is determined by the Registration Department and is based on various factors, including the classification of land and the location within the village. It is regularly revised to reflect current market conditions.