Guideline Value for Bakya Street (Banu Nagar West)

Bakya Street (Banu Nagar West) guideline value

The current guideline value of Bakya Street (Banu Nagar West) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Bakya Street (Banu Nagar West) has changed

The guideline value for Bakya Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 605 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 231% increase. However, this value saw a decrease of 33% to Rs 1,340 per sq.ft in the 2017 revision.

Following the 2017 revision, the value rose to Rs 2,000 per sq.ft in 2023, and subsequently increased by 10% to reach the current guideline value of Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are a total of 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bakya Street's current guideline value aligns with this median.

• Bakyam Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakyalakshmi Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakthavatchalam Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Bakthavatchalam Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bakya Street (Banu Nagar West)

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 is calculated at 7%, resulting in Rs 1,54,000, while the registration fee at 2% comes to Rs 44,000. Together, the total cost for stamp duty and registration fee is Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bakya Street (Banu Nagar West)?

The Ambattur Sub Registrar Office covers Bakya Street (Banu Nagar West). The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Oragadam. It is used to determine the stamp duty and registration fees applicable when buying or selling property, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This helps in maintaining transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bakya Street (Banu Nagar West)?

The current guideline value of Bakya Street (Banu Nagar West) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 605 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 264% over the years.

What is the land classification for Bakya Street (Banu Nagar West)?

Bakya Street (Banu Nagar West) is classified as Residential Special Type - II.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Bakya Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.