Guideline Value for Bakyam Street (Banu Nagar West)

Bakyam Street (Banu Nagar West) guideline value

The current guideline value of Bakyam 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, and is classified as Residential Special Type - II.

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

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 605 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision raised it to Rs 2,000 per sq.ft, and the latest revision in 2024 has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 264%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 guideline value of Bakyam Street (Banu Nagar West).

• Bakya 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 Bakyam 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total 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 Bakyam Street (Banu Nagar West)?

The Sub Registrar Office that covers Bakyam Street (Banu Nagar West) is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process of property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Bakyam 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 significantly from Rs 605 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 264% over this period.

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

Bakyam Street (Banu Nagar West) is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Bakyam Street (Banu Nagar West)?

The Sub Registrar Office for Bakyam Street (Banu Nagar West) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Oragadam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 22,00,000, the stamp duty would be calculated at 7% of this amount.