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

Jayalakshmi Street (V.L.Puram) guideline value

The current guideline value of Jayalakshmi Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

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

The guideline value for Jayalakshmi 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 was a decrease of 33% from the 2017 revision of Rs 1,474 per sq.ft. The value remained at Rs 2,200 per sq.ft until the 2023 revision, which increased it to Rs 2,200 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

In summary, from the 2017 revision to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value. 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 2024 guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Jayalakshmi Street (V.L.Puram) above this median.

• Jayakumar Street: Rs 1,600 per sq.ft (2024)
• Jayaprakash Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Jawahar Street: Rs 2,400 per sq.ft (2024)
• Jeevanandham Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Jeevanandham Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Jeevanantham Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Street (V.L.Puram)

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the 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, totaling 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 the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Jayalakshmi 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 is a crucial factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Jayalakshmi 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 2023 to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

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

The land classification for Jayalakshmi Street (V.L.Puram) is Residential Special Type - I. This classification impacts the guideline value and potential uses of the land.

Where can I find the registration office for Jayalakshmi Street (V.L.Puram)?

The registration office for Jayalakshmi 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 Oragadam?

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