Guideline Value for Chengalvaraiyan Street (Gandhi Nagar)

Chengalvaraiyan Street (Gandhi Nagar) guideline value

The current guideline value of Chengalvaraiyan Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chengalvaraiyan Street (Gandhi Nagar) has changed

Over the years, the guideline value of Chengalvaraiyan Street has undergone several revisions. The 2012 revision set the value at Rs 1,700 per sq.ft, which then decreased to Rs 1,139 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 1,700 per sq.ft in the 2023 revision, and then further rose to Rs 1,800 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, and 2007.

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 guideline value in this area is Rs 2,200 per sq.ft, placing Chengalvaraiyan Street's 2024 figure below that median.

• Cheran Street(Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Chellamuthu Street: Rs 1,400 per sq.ft (2024)
• Chellammal Kovil Street: Rs 1,400 per sq.ft (2024)
• Chozhan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Church Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Church Street (Venkatesara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalvaraiyan Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty, calculated at 7%, would amount to Rs 1,26,000, while the registration fee at 2% would be Rs 36,000. Together, the total cost for these fees would be Rs 1,62,000. It is important to note that 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 Chengalvaraiyan Street (Gandhi Nagar)?

The Chengalvaraiyan Street (Gandhi Nagar) falls under the jurisdiction of the Ambattur Sub Registrar Office. The office is 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 is a crucial factor during the registration of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is not undervalued.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can significantly impact the overall transaction costs.

Frequently asked questions

What is the current guideline value of Chengalvaraiyan Street (Gandhi Nagar)?

The current guideline value of Chengalvaraiyan Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024.

What is the land classification for Chengalvaraiyan Street?

Chengalvaraiyan Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 18,00,000, the stamp duty would be Rs 1,26,000 and the registration fee would be Rs 36,000, totaling Rs 1,62,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Chengalvaraiyan Street?

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