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Guideline Value

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Guideline Value for Banu Nagar (M.G.R. Avenue )

₹2200/sq.ft.

The guideline value for Banu Nagar (m.g.r. Avenue ) in Oragadam village (Ambattur SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Oragadam

Village

Ambattur

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹605 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹216 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop,ambattur- 600 053
044-26584174
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Banu Nagar (m.g.r. Avenue )

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Banu Nagar (M.G.R. Avenue ) guideline value

The current guideline value for Banu Nagar (M.G.R. Avenue) 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 Banu Nagar (M.G.R. Avenue ) has changed

The guideline value for Banu Nagar (M.G.R. Avenue) has seen several revisions over the years. In 2003, the value was Rs 216 per sq.ft, which increased to Rs 605 per sq.ft in 2007, marking an increase of 180%. By 2012, the value rose significantly to Rs 2,000 per sq.ft, reflecting a 231% increase. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it has reached Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 919%. It is important to note that there is no figure for Banu Nagar (M.G.R. Avenue) in the 2002 revision.

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, with a median value of Rs 2,200 per sq.ft. The guideline value for Banu Nagar (M.G.R. Avenue) aligns with this median.

Stamp duty and registration fee for property in Banu Nagar (M.G.R. Avenue )

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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Banu Nagar (M.G.R. Avenue )?

The Sub Registrar Office that covers Banu Nagar (M.G.R. Avenue) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Oragadam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must be aware of the guideline value as it influences the overall cost of the transaction. This value is used to calculate the applicable duties and fees, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value for Banu Nagar (M.G.R. Avenue)?

The current guideline value for Banu Nagar (M.G.R. Avenue) 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 216 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 919% over this period.

What are the stamp duty rates applicable in Banu Nagar (M.G.R. Avenue)?

The stamp duty rate applicable in Banu Nagar (M.G.R. Avenue) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Banu Nagar (M.G.R. Avenue)?

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

What is the land classification for Banu Nagar (M.G.R. Avenue)?

Banu Nagar (M.G.R. Avenue) is classified as Residential Special Type - II, which indicates its suitability for residential development.