Guideline Value for Appar Street (Venkateswara Nagar)

Appar Street (Venkateswara Nagar) guideline value

The current guideline value for Appar Street (Venkateswara Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Appar Street (Venkateswara Nagar) has changed

The guideline value for Appar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 saw a further increase of 7%, bringing the current guideline value to Rs 1,600 per sq.ft.

It is important to note that there are no figures available for Appar Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Appar Street's 2024 figure below that median.

• Appar Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Appaduri Street: Rs 1,600 per sq.ft (2024)
• A.P.Arasu Street: Rs 2,400 per sq.ft (2024)
• A.P.Arasu 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Arangan Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Arangan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Appar Street (Venkateswara Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value totals Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total Rs 1,44,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Appar Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Appar Street (Venkateswara Nagar) 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 Oragadam

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Appar Street (Venkateswara Nagar)?

The current guideline value of Appar Street (Venkateswara Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Appar Street (Venkateswara Nagar)?

Appar Street (Venkateswara Nagar) falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Appar Street (Venkateswara Nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Oragadam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be Rs 1,12,000 for a 1,000 sq.ft plot.