Guideline Value for Iyyappan Street(V.L.Puram)

Iyyappan Street(V.L.Puram) guideline value

The current guideline value of Iyyappan 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 Iyyappan Street(V.L.Puram) has changed

The guideline value for Iyyappan Street(V.L.Puram) has undergone 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, there was a decrease to Rs 1,474 per sq.ft in 2017. The value then rose to Rs 2,200 per sq.ft in 2023 before reaching the current figure of Rs 2,400 per sq.ft in 2024. The changes from 2012 to 2017 saw a decline of 33%, while the increase from 2017 to 2023 was 49%. From 2023 to 2024, there was a rise of 9%. Overall, from 2007 to 2024, the guideline value has increased by 300%.

The register has no figure for Iyyappan Street(V.L.Puram) for the years 2002 and 2003.

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 for Iyyappan Street(V.L.Puram) is above this median.

• Iyappan Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• 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)
• 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 Iyyappan 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, while the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that the 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 detailed calculations.

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

The Sub Registrar Office that covers Iyyappan Street(V.L.Puram) 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 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 property sales.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legalizing the transaction. Buyers should be aware that these costs can significantly impact the overall expense of purchasing property.

Frequently asked questions

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

The current guideline value of Iyyappan 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 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

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

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

Where can I find the Sub Registrar Office for Iyyappan Street(V.L.Puram)?

The Sub Registrar Office for Iyyappan Street(V.L.Puram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Iyyappan Street(V.L.Puram)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.