Guideline Value for Indira Gandhi Street (Venkateswara Nagar)

Indira Gandhi Street (Venkateswara Nagar) guideline value

The current guideline value of Indira Gandhi 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, classified as Residential Class II Type - I.

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

The guideline value for Indira Gandhi Street (Venkateswara Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, while the period from 2017 to 2023 saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

Oragadam village has a total of 596 streets under the Ambattur SRO, with the 2024 guideline values 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 Indira Gandhi Street (Venkateswara Nagar) below this median.

• Indira Gandhi Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Gandhi Street (1st Ward): Rs 1,300 per sq.ft (2024)
• Indira Nagar: Rs 1,400 per sq.ft (2024)
• Indira Gandhi Cross Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Imanuvel Nagar: Rs 2,200 per sq.ft (2024)
• Hussian Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

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

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

Which Sub Registrar Office covers Indira Gandhi Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Indira Gandhi 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. 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 when registering a property in Oragadam. It serves as the base value for calculating stamp duty and registration fees, which are mandatory during the property transfer process.

When buyers or sellers engage in a transaction, the guideline value ensures that the property is assessed at a standard rate, helping to maintain transparency and consistency in property dealings. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

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

The current guideline value of Indira Gandhi 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 Indira Gandhi Street (Venkateswara Nagar)?

Indira Gandhi Street (Venkateswara Nagar) is classified as Residential Class II Type - I.

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

The Sub Registrar Office covering Indira Gandhi 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 on Indira Gandhi Street (Venkateswara Nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,600 per sq.ft would incur a total guideline value of Rs 16,00,000, leading to stamp duty and registration fees as specified.