Guideline Value for Indira Gandhi Street(V.L.Puram)

Indira Gandhi Street(V.L.Puram) guideline value

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

How the guideline value of Indira Gandhi Street(V.L.Puram) has changed

The guideline value for Indira Gandhi Street(V.L.Puram) has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it dropped to Rs 1,474 per sq.ft in 2017. The value then rose to Rs 2,200 per sq.ft in 2023 and has now reached Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

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 Indira Gandhi Street(V.L.Puram) is above this median.

• Indira Gandhi Street (Venkateswara Nagar): Rs 1,600 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(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 amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total charges to Rs 2,16,000. 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 more details.

Which Sub Registrar Office covers Indira Gandhi Street(V.L.Puram)?

The Indira Gandhi Street(V.L.Puram) falls under 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 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 government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware of the guideline value to ensure they are complying with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street(V.L.Puram)?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Indira Gandhi Street(V.L.Puram)?

Indira Gandhi Street(V.L.Puram) is classified as Residential Special Type - I.

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

The Ambattur Sub Registrar Office covers Indira Gandhi Street(V.L.Puram) and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai.

How is the stamp duty calculated for properties in Oragadam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at a rate of 7%, while the registration fee is charged at 2% of the guideline value.