Guideline Value for Banu Nagar (Srinivasan Street)

Banu Nagar (Srinivasan Street) guideline value

The current guideline value of Banu Nagar (Srinivasan Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Special Type - II land classification.

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

The guideline value for Banu Nagar (Srinivasan Street) has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam village, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current value for Banu Nagar (Srinivasan Street).

• Banu Nagar (Rajiv Gandhi Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Ambethkar Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar (M.G.R. Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Bakkialakshmi Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar Karunanithi Avenue: Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Bakkiya Street): Rs 2,200 per sq.ft (2024)

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

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 fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Banu Nagar (Srinivasan Street)?

The Sub Registrar Office that covers Banu Nagar (Srinivasan Street) 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value for Banu Nagar (Srinivasan Street) has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant increase of 49% from 2017 to 2023.

What are the other guideline values in Oragadam?

In Oragadam, the guideline values for other streets range from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft, which is the same as the current value for Banu Nagar (Srinivasan Street).

What fees are associated with buying property in Banu Nagar (Srinivasan Street)?

When purchasing property in Banu Nagar (Srinivasan Street), buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 1,98,000.

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

The Sub Registrar Office for Banu Nagar (Srinivasan Street) 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 more information online.