Guideline Value for Banu Street

Banu Street guideline value

The current guideline value of Banu Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Banu Street has changed

The guideline value for Banu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and finally rose to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, the guideline value has increased by 6% from the 2012 revision to the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Banu Street's 2024 figure above that median.

• Bala Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Bala Vinayagar 1st CrossStreet: Rs 1,700 per sq.ft (2024)
• Balakrishnan Street: Rs 1,700 per sq.ft (2024)
• Bharathi Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Street(Arumuga Nagar): Rs 1,700 per sq.ft (2024)
• Bharath Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Banu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Banu Street?

The Sub Registrar Office that covers Banu Street is 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 SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the legal and financial obligations of both the buyer and the seller. This process is essential for maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Banu Street?

The current guideline value of Banu Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, an increase of 6%. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the land classification of Banu Street?

Banu Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions in Banu Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the registration for Banu Street?

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