Guideline Value for Banu Street

Banu Street guideline value

The current guideline value of Banu Street in 5. Athipattu village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class I Type - II.

How the guideline value of Banu Street has changed

In the 2017 revision, the guideline value for Banu Street was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft, with the median value being Rs 2,200 per sq.ft. Banu Street's 2024 guideline value is equal to this median.

• Bazaar Road (ICF Colony): Rs 2,400 per sq.ft (2024)
• Bethania street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street (Chelliamman): Rs 2,200 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,600 per sq.ft (2024)
• Bhavani Salai(Chelliamman nagar): Rs 2,200 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 2,200 per sq.ft, the total 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, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banu Street?

The Sub Registrar Office that covers Banu Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a critical factor during the registration of property transactions in 5. Athipattu. It serves as the benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Banu Street?

The current guideline value of Banu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has seen a significant increase from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64%.

What are the other streets in 5. Athipattu with their guideline values?

Other streets in 5. Athipattu include Bazaar Road (ICF Colony) at Rs 2,400 per sq.ft, Bethania Street at Rs 2,200 per sq.ft, and several others with varying rates.

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

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 Sub Registrar Office is responsible for Banu Street?

The Konnur Sub Registrar Office is responsible for Banu Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.