Guideline Value for Jothi Venkatachalam Street

Jothi Venkatachalam Street guideline value

The current guideline value of Jothi Venkatachalam Street is Rs 1,600 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 Class II Type - I.

How the guideline value of Jothi Venkatachalam Street has changed

The guideline value for Jothi Venkatachalam Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,600 per sq.ft in the 2024 revision. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a notable increase of 49%. The value then saw a further increase of 7% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has risen by 300%, reflecting the various changes over the years.

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. Jothi Venkatachalam Street's current guideline value is below this median.

• Jupiter Street: Rs 1,600 per sq.ft (2024)
• Kabilar Street (Pudur): Rs 1,900 per sq.ft (2024)
• Kabilar Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Kadharmohideen St: Rs 1,600 per sq.ft (2024)
• Jegathampal Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Jegathabigai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Venkatachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees 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 precise calculations.

Which Sub Registrar Office covers Jothi Venkatachalam Street?

The Sub Registrar Office that covers Jothi Venkatachalam Street 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 payable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a value that reflects the official rates set by the government. This process aids in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jothi Venkatachalam Street?

The current guideline value of Jothi Venkatachalam Street 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 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, with various increases and decreases in between. The most recent increase was a 7% rise from Rs 1,500 per sq.ft in 2023.

What is the land classification for Jothi Venkatachalam Street?

The land classification for Jothi Venkatachalam Street is Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office covering Jothi Venkatachalam Street 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 the stamp duty calculated for properties in Jothi Venkatachalam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at the rate of 7%.