Guideline Value for DR. M. Varatharajan Street (V.L.Puram)

DR. M. Varatharajan Street (V.L.Puram) guideline value

The current guideline value of DR. M. Varatharajan Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it is classified as Residential Special Type - I.

How the guideline value of DR. M. Varatharajan Street (V.L.Puram) has changed

The guideline value for DR. M. Varatharajan Street (V.L.Puram) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in the 2023 revision, and finally to Rs 2,400 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of DR. M. Varatharajan Street (V.L.Puram) is above this median.

• Duraisamy Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• E.B.Street: Rs 1,600 per sq.ft (2024)
• Elango Street: Rs 1,900 per sq.ft (2024)
• Elumalai mesthri Street(Banu nagar): Rs 2,200 per sq.ft (2024)
• Dhanappan Street (Banu Nagar East): Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Street(Banu Nagar West): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in DR. M. Varatharajan Street (V.L.Puram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers DR. M. Varatharajan Street (V.L.Puram)?

The Sub Registrar Office that covers DR. M. Varatharajan Street (V.L.Puram) is the Ambattur Sub Registrar Office. The address is 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 critical factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are paid. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of DR. M. Varatharajan Street (V.L.Puram)?

The current guideline value of DR. M. Varatharajan Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office is responsible for this area?

The Ambattur Sub Registrar Office covers DR. M. Varatharajan Street (V.L.Puram), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the land classification of DR. M. Varatharajan Street (V.L.Puram)?

DR. M. Varatharajan Street (V.L.Puram) is classified as Residential Special Type - I.