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Guideline Value

Corporate

Guideline Value for Banu Nagar(8th Avenue)

₹2200/sq.ft.

The guideline value for Banu Nagar(8th Avenue) in Oragadam village (Ambattur SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Oragadam

Village

Ambattur

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 ₹200 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop,ambattur- 600 053
044-26584174
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Banu Nagar(8th Avenue)

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Banu Nagar(8th Avenue) guideline value

The current guideline value of Banu Nagar(8th Avenue) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Banu Nagar(8th Avenue) has changed

The guideline value for Banu Nagar(8th Avenue) has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 200 per sq.ft. It then increased significantly to Rs 2,000 per sq.ft in 2012, marking a 900% rise. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, which is a 33% drop from the previous figure. The value then rose again to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, a 10% increase from the previous year. The register has no figures for the years 2003 and 2007.

Overall, from the 2002 to the 2024 revision, the guideline value has increased by 1000%, reflecting the changes in the property landscape in the area. The 2023 to 2024 revision saw a 10% increase, while the jump from 2017 to 2023 was 49%.

Guideline values in Oragadam

In Oragadam village, 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 the same as the 2024 guideline value for Banu Nagar(8th Avenue).

Stamp duty and registration fee for property in Banu Nagar(8th 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 or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banu Nagar(8th Avenue)?

Banu Nagar(8th 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction reflects a fair value in accordance with the prevailing market conditions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Banu Nagar(8th Avenue)?

The current guideline value of Banu Nagar(8th Avenue) 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 increased 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 are the stamp duty and registration fees for a property in Banu Nagar(8th Avenue)?

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.

Where is the Sub Registrar Office for Banu Nagar(8th Avenue)?

The Sub Registrar Office covering Banu Nagar(8th Avenue) is 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(8th Avenue)?

Banu Nagar(8th Avenue) falls under the Residential Special Type - II land classification.