Guideline Value for Banu Nagar(13th Avenue)

Banu Nagar(13th Avenue) guideline value

The current guideline value of Banu Nagar(13th Avenue) is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Banu Nagar(13th Avenue) has changed

The guideline value for Banu Nagar(13th Avenue) has seen several revisions over the years. In 2002, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,340 per sq.ft in 2017. Following this, the value rose sharply to Rs 2,000 per sq.ft in 2023, and then increased by 10% to the current value of Rs 2,200 per sq.ft in 2024.

There are no figures available for the revisions in 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 value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Banu Nagar(13th Avenue).

• Banu Nagar(12th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(14th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(11th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(15th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(10th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(16th Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar(13th 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, making the total cost 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 further calculations.

Which Sub Registrar Office covers Banu Nagar(13th Avenue)?

Banu Nagar(13th Avenue) 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 property transactions in Oragadam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Banu Nagar(13th Avenue)?

The current guideline value of Banu Nagar(13th Avenue) 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 200 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1000% over this period.

What is the land classification for Banu Nagar(13th Avenue)?

Banu Nagar(13th Avenue) is classified as Residential Special Type - II.

Where can I find the registration office for Banu Nagar(13th Avenue)?

The registration office for Banu Nagar(13th Avenue) 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 stamp duty calculated for properties in Banu Nagar(13th Avenue)?

Stamp duty is calculated at 7% of 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 Rs 1,54,000.