Guideline Value for Banu Nagar 3rd Main Road

Banu Nagar 3rd Main Road guideline value

The current guideline value for Banu Nagar 3rd Main Road 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 3rd Main Road has changed

The guideline value for Banu Nagar 3rd Main Road has seen several revisions over the years. In 2002, the value was Rs 200 per sq.ft, which significantly increased to Rs 2,000 per sq.ft by 2012, marking a 900% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The value then rose sharply to Rs 2,000 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2003 and 2007 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1000%.

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, which is equal to the 2024 figure for Banu Nagar 3rd Main Road.

• Banu Nagar(3rd Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(4th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(32th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Banu Nagar(31th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(5th Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar 3rd Main Road

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, 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banu Nagar 3rd Main Road?

The Sub Registrar Office that covers Banu Nagar 3rd Main Road 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 is an essential factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Banu Nagar 3rd Main Road?

The current guideline value for Banu Nagar 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much 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%.

What are the stamp duty and registration fees for property in Banu Nagar 3rd Main Road?

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

Which Sub Registrar Office covers Banu Nagar 3rd Main Road?

The Ambattur Sub Registrar Office covers Banu Nagar 3rd Main Road, 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 3rd Main Road?

Banu Nagar 3rd Main Road is classified as Residential Special Type - II.