Guideline Value for Banu Nagar -East (Kanthasamy Street)

Banu Nagar -East (Kanthasamy Street) guideline value

The current guideline value for Banu Nagar -East (Kanthasamy 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 the land classification is Residential Special Type - II.

How the guideline value of Banu Nagar -East (Kanthasamy Street) has changed

The guideline value for Banu Nagar -East (Kanthasamy Street) has undergone several revisions over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 216 per sq.ft in 2003, marking an 8% rise. The value saw significant growth in the following years, reaching Rs 605 per sq.ft in 2007, a remarkable increase of 180%. By 2012, the value was Rs 2,000 per sq.ft, reflecting a 231% increase from the previous revision. However, it then decreased by 33% to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions of this street in years other than those listed. The overall change from 2002 to 2024 is an increase of 1000% in the guideline value.

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 guideline value is Rs 2,200 per sq.ft, placing Banu Nagar -East (Kanthasamy Street) at this median value.

• Banu Nagar -East (Elumalai Mesthri Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar -East (Thanappan Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar Daniel Street: Rs 2,200 per sq.ft (2024)
• Banu Nagar E.V.R. Periyar Avenue: Rs 2,200 per sq.ft (2024)
• Banu Nagar Daniel Cross Street: Rs 2,200 per sq.ft (2024)
• Banu Nagar E.V.R. Periyar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar -East (Kanthasamy Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total fees together 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.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Banu Nagar -East (Kanthasamy Street)?

The Sub Registrar Office that covers Banu Nagar -East (Kanthasamy Street) is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

To learn more about other offices, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction. The guideline value is used to ensure that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is fair and transparent, reflecting the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value for Banu Nagar -East (Kanthasamy Street)?

The current guideline value for Banu Nagar -East (Kanthasamy 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 has increased from Rs 200 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the stamp duty rate for properties in Banu Nagar -East (Kanthasamy Street)?

The stamp duty rate for properties in Banu Nagar -East (Kanthasamy Street) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Banu Nagar -East (Kanthasamy Street)?

The Sub Registrar Office for Banu Nagar -East (Kanthasamy Street) 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 -East (Kanthasamy Street)?

The land classification for Banu Nagar -East (Kanthasamy Street) is Residential Special Type - II.