Guideline Value for Thiruvalluvar Street (Banu Nagar West)

Thiruvalluvar Street (Banu Nagar West) guideline value

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

How the guideline value of Thiruvalluvar Street (Banu Nagar West) has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 500 per sq.ft, which rose to Rs 2,000 per sq.ft in 2012, marking a substantial increase of 300%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw the value rise to Rs 2,000 per sq.ft, and finally, the current value is Rs 2,200 per sq.ft as of 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

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 value of Thiruvalluvar Street (Banu Nagar West).

• Thiruvalluvar Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Thiruvalluvar Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Thiruvengadam Pillai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Thiruvengadam Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street (Banu Nagar West)

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. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street (Banu Nagar West)?

The Sub Registrar Office that covers Thiruvalluvar Street (Banu Nagar West) is 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, ensuring that the transaction is recorded at a fair price.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions adhere to the regulatory framework established by the state.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street (Banu Nagar West)?

The current guideline value of Thiruvalluvar Street (Banu Nagar West) 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 significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the registration fee for property in Thiruvalluvar Street (Banu Nagar West)?

The registration fee is calculated at 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Which Sub Registrar Office handles the registration for this street?

The Ambattur Sub Registrar Office handles the registration for Thiruvalluvar Street (Banu Nagar West), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the minimum price at which a property can be registered. It is also used to calculate the stamp duty and registration fees, ensuring compliance with state regulations.