Guideline Value for Iyappan Street (Venkateswara Nagar)

Iyappan Street (Venkateswara Nagar) guideline value

The current guideline value of Iyappan 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 Iyappan Street (Venkateswara Nagar) has changed

The guideline value for Iyappan Street (Venkateswara Nagar) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2023, and most recently, it rose to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase.

There are no recorded figures for Iyappan Street (Venkateswara Nagar) in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 220%.

Guideline values in Oragadam

In Oragadam village, 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, with a median value of Rs 2,200 per sq.ft. Iyappan Street (Venkateswara Nagar) is below this median.

• Iyappan Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Iyappan Street ( Palaniappa Nagar): Rs 2,200 per sq.ft (2024)
• Iyankulam Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Iyyappan Street(V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Nagar: Rs 1,400 per sq.ft (2024)
• Indira Gandhi Street(V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan 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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Iyappan Street (Venkateswara Nagar) 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 crucial factor in the registration process when buying or selling property in Oragadam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during registration, as the stamp duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Iyappan 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 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification of Iyappan Street (Venkateswara Nagar)?

Iyappan Street (Venkateswara Nagar) is classified as Residential Class II Type - I under the guideline value register.

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

The Sub Registrar Office for Iyappan 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 guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.