Guideline Value for Banu Nagar Karunanithi Avenue

Banu Nagar Karunanithi Avenue guideline value

The current guideline value of Banu Nagar Karunanithi Avenue is Rs 2,200 per sq.ft. 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 Karunanithi Avenue has changed

The guideline value for Banu Nagar Karunanithi Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was reduced to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, this was followed by a significant increase of 49% in the 2023 revision, bringing the value back up to Rs 2,000 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

There are no registered figures for Banu Nagar Karunanithi Avenue in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have 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 Karunanithi Avenue is equal to this median.

• Banu Nagar Karunanithi 2nd Avenue: Rs 2,200 per sq.ft (2024)
• Banu Nagar (M.G.R. Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar Karunanithi 1st Avenue: Rs 2,200 per sq.ft (2024)
• Banu Nagar (Rajiv Gandhi Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar E.V.R. Periyar Street: Rs 2,200 per sq.ft (2024)
• Banu Nagar (Srinivasan Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar Karunanithi Avenue

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

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Banu Nagar Karunanithi Avenue?

The Sub Registrar Office that covers Banu Nagar Karunanithi Avenue 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 a critical 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 payable, ensuring that these costs are calculated based on the official valuation set by the government.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Banu Nagar Karunanithi Avenue?

The current guideline value of Banu Nagar Karunanithi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value has also seen a rise from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What is the land classification for Banu Nagar Karunanithi Avenue?

Banu Nagar Karunanithi Avenue is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Banu Nagar Karunanithi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.