Guideline Value for Banu Nagar(15th Avenue)

Banu Nagar(15th Avenue) guideline value

The current guideline value of Banu Nagar(15th 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(15th Avenue) has changed

The guideline value has undergone several revisions over the years. In 2002, the value was Rs 200 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a 900% rise. However, this value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Between 2017 and 2023, the value increased by 49%. Overall, from 2002 to 2024, the guideline value has increased by 1000%. The register has no figures for the years 2003 and 2007 for this street.

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 guideline value of Banu Nagar(15th Avenue).

• Banu Nagar(14th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(16th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(13th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(17th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(12th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar(18th Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Nagar(15th Avenue)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banu Nagar(15th Avenue)?

The Sub Registrar Office that covers Banu Nagar(15th Avenue) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600053, 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 plays a crucial role during the registration of property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the property is registered at a value that reflects its worth according to the official guidelines.

Frequently asked questions

What is the current guideline value for Banu Nagar(15th Avenue)?

The current guideline value for Banu Nagar(15th 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, reflecting an overall increase of 1000% over this period.

What is the stamp duty rate applicable in Banu Nagar(15th Avenue)?

The stamp duty rate applicable in Banu Nagar(15th Avenue) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Banu Nagar(15th Avenue) located?

The Sub Registrar Office for Banu Nagar(15th Avenue) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600053, Chennai registration zone.

What are the other streets in Oragadam with the same guideline value?

Other streets in Oragadam with the same guideline value of Rs 2,200 per sq.ft include Banu Nagar(14th Avenue), Banu Nagar(16th Avenue), Banu Nagar(13th Avenue), Banu Nagar(17th Avenue), Banu Nagar(12th Avenue), and Banu Nagar(18th Avenue).