Guideline Value for Banu Nagar 6th Main Road

Banu Nagar 6th Main Road guideline value

The current guideline value of Banu Nagar 6th Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Oragadam village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Banu Nagar 6th Main Road has changed

The guideline value for Banu Nagar 6th 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 in 2012, marking a rise of 900%. However, from 2012 to 2017, it 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, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2003 and 2007 for this street in the register.

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 of Banu Nagar 6th Main Road aligns with this median.

• Banu Nagar(6th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(7th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Banu Nagar 7th Main Road: Rs 2,200 per sq.ft (2024)
• Banu Nagar(5th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(8th Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar 6th 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 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, leading to a total of 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Banu Nagar 6th Main Road?

The Banu Nagar 6th Main Road falls under 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

The guideline value is a crucial factor during the registration process of property transactions in Oragadam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction, including taxes and fees that are calculated based on this value.

Frequently asked questions

What is the current guideline value of Banu Nagar 6th Main Road?

The current guideline value of Banu Nagar 6th 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 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 for Banu Nagar 6th Main Road?

Banu Nagar 6th Main Road is classified as Residential Special Type - II under the Ambattur SRO.

What are the stamp duty and registration fees for a property in Banu Nagar 6th Main Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers the area of Banu Nagar 6th Main Road?

The Ambattur Sub Registrar Office covers Banu Nagar 6th Main Road, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.