Guideline Value for Banu Nagar -East (Thanappan Street)

Banu Nagar -East (Thanappan Street) guideline value

The current guideline value of Banu Nagar -East (Thanappan 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 is classified as Residential Special Type - II.

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

Since the 2002 revision, the guideline value for Banu Nagar -East (Thanappan Street) has seen significant changes. The register shows a value of Rs 200 per sq.ft in 2002, which increased to Rs 216 per sq.ft in 2003, marking an 8% rise. In 2007, the value jumped to Rs 605 per sq.ft, reflecting a 180% increase. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, a substantial 231% increase. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, which represented a 33% drop. The value then increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise, and finally reached Rs 2,200 per sq.ft in the 2024 revision, a 10% increase.

The guideline value register has no figures for this street in the years not listed above.

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 value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Banu Nagar -East (Thanappan Street).

• Banu Nagar -East (Kanthasamy Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar E.V.R. Periyar Avenue: Rs 2,200 per sq.ft (2024)
• Banu Nagar -East (Elumalai Mesthri Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar E.V.R. Periyar Street: Rs 2,200 per sq.ft (2024)
• Banu Nagar Daniel Street: Rs 2,200 per sq.ft (2024)
• Banu Nagar Karunanithi 1st Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar -East (Thanappan 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, totaling 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 information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Banu Nagar -East (Thanappan 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 details.

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

When buying or selling property in Oragadam, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a benchmark for the value of the property, ensuring that the fees are calculated based on a standardized rate.

At the time of registration, the guideline value is used to assess the applicable charges. Buyers should be aware that the stamp duty and registration fees are charged on the higher of the guideline value or the sale price, which ensures a fair process during property transactions.

Frequently asked questions

What is the current guideline value of Banu Nagar -East (Thanappan Street)?

The current guideline value of Banu Nagar -East (Thanappan 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 changed significantly from Rs 200 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1000% over the years.

What is the land classification of Banu Nagar -East (Thanappan Street)?

Banu Nagar -East (Thanappan Street) is classified as Residential Special Type - II.

Where can I find the registration office for Banu Nagar -East (Thanappan Street)?

The registration office for Banu Nagar -East (Thanappan Street) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Oragadam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be calculated at 7% of that amount.