Guideline Value for Banakara Street

Banakara Street guideline value

The current guideline value of Banakara Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Sriperumbudur A village, under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Banakara Street has changed

The guideline value for Banakara Street has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. The current 2024 revision maintains this figure, reflecting no change from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase is also 49%. For the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Banakara Street's 2024 figure above the median.

• Bangalore Road: Rs 2,500 per sq.ft (2024)
• Balaji Street: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)
• Balaji Garden: Rs 700 per sq.ft (2024)
• Bakthavatchalam Nagar: Rs 700 per sq.ft (2024)
• Bharathi Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banakara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the 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 Banakara Street?

Banakara Street falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Banakara Street?

The current guideline value of Banakara Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft since the 2023 revision, reflecting a 49% increase from the 2017 revision, which was Rs 670 per sq.ft.

What is the median guideline value for streets in Sriperumbudur A?

The median guideline value for streets in Sriperumbudur A is Rs 700 per sq.ft, with Banakara Street's value above this median at Rs 1,000 per sq.ft.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles property registrations for Banakara Street?

The Sriperumpudur Sub Registrar Office handles property registrations for Banakara Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.