Guideline Value for Banu Ayya Garden

Banu Ayya Garden guideline value

The current guideline value of Banu Ayya Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Banu Ayya Garden has changed

In the 2023 revision, the guideline value was Rs 2,000 per sq.ft. The latest 2024 revision has increased this value to Rs 2,200 per sq.ft, marking a change of +10%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

As a result, the guideline value has seen a notable increase from the previous year, reflecting the current valuation standards. The 2024 figure of Rs 2,200 per sq.ft is below the median value of Rs 2,750 per sq.ft for other streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, and Banu Ayya Garden's 2024 figure is below this median.

• Bank of Baroda Colony, Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony Main Road: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony Extn: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony: Rs 2,200 per sq.ft (2024)
• B.A. Natarajan Street: Rs 2,750 per sq.ft (2024)
• Barathiar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Ayya Garden

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banu Ayya Garden?

The Sub Registrar Office that covers Banu Ayya Garden is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process of property transactions in Madipakkam-1. It serves as the minimum value at which a property can be registered, ensuring that the transaction reflects the current market standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. These fees are based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Banu Ayya Garden?

The current guideline value of Banu Ayya Garden 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 increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a change of +10%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Banu Ayya Garden's value being below this median.

What are the stamp duty and registration fees for Banu Ayya Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Banu Ayya Garden located?

The Sub Registrar Office for Banu Ayya Garden is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.