Guideline Value for Banu Nagar West Ranganathan Street

Banu Nagar West Ranganathan Street guideline value

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

How the guideline value of Banu Nagar West Ranganathan Street has changed

The guideline value for Banu Nagar West Ranganathan Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then dropped to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a 10% increase, aligning the current value with the median guideline value of Rs 2,200 per sq.ft for the area.

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. Banu Nagar West Ranganathan Street's 2024 guideline value is equal to this median.

• Banu Nagar West (Kalyan Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Vijayalakshmi Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar West Gubera Ganapathi Avenue: Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Bakkiya Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Bakkialakshmi Street): Rs 2,200 per sq.ft (2024)
• Banu Nagar West (Ambethkar Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar West Ranganathan 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, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees total 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 fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Banu Nagar West Ranganathan Street?

The Banu Nagar West Ranganathan Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value is a crucial factor when registering properties in Oragadam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Banu Nagar West Ranganathan Street?

The current guideline value of Banu Nagar West Ranganathan 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

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 office handles the registration for Banu Nagar West Ranganathan Street?

The registration for Banu Nagar West Ranganathan Street is handled by the Ambattur Sub Registrar Office, 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 West Ranganathan Street?

Banu Nagar West Ranganathan Street is classified as Residential Special Type - II, indicating its suitability for residential development.