Guideline Value for Kalainger Karunanithi Street (V.L.Puram)

Kalainger Karunanithi Street (V.L.Puram) guideline value

The current guideline value of Kalainger Karunanithi 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, and is classified as Residential Special Type - I.

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

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, showing a rise of 49%. The latest revision in 2024 set the value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Oragadam

Oragadam village has a total of 596 streets under the Ambattur SRO, with 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, placing Kalainger Karunanithi Street (V.L.Puram) above this median.

• Kalainger Karunanithi Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Kalainger Karunanithi Street (Pudur): Rs 1,900 per sq.ft (2024)
• Kalainger Karunanithi Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Kalaivanar 1st Street: Rs 1,300 per sq.ft (2024)
• Kalaivanar 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalainger Karunanithi 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, and the registration fee at 2% would be Rs 48,000, bringing the total cost for these fees to 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 the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Kalainger Karunanithi 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 when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

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

The current guideline value of Kalainger Karunanithi 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 seen various changes, starting from Rs 2,200 per sq.ft in 2012, decreasing to Rs 1,474 per sq.ft in 2017, and then increasing to Rs 2,200 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,400 per sq.ft.

What is the land classification for this street?

Kalainger Karunanithi Street (V.L.Puram) is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office 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 this area?

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