Guideline Value for O.V .Alagesan Nagar

O.V .Alagesan Nagar guideline value

The current guideline value of O.V .Alagesan Nagar is Rs 3,600 per sq.ft, effective from 1 July 2024. This area falls under Ambattur village and is classified as Residential Class I Type - I within the Ambattur SRO.

How the guideline value of O.V .Alagesan Nagar has changed

Over the years, the guideline value of O.V .Alagesan Nagar has seen several revisions. The 2012 revision set the value at Rs 3,300 per sq.ft, which was followed by a decrease to Rs 2,211 per sq.ft in 2017. However, the subsequent 2023 revision increased it back to Rs 3,300 per sq.ft, and the latest 2024 revision raised it further to Rs 3,600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, followed by a 9% increase from 2023 to 2024. Notably, the overall change from the 2012 revision to the 2024 revision reflects a modest increase of 9%.

Guideline values in Ambattur

As of the 2024 revision, Ambattur village has 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, which matches the current value of O.V .Alagesan Nagar.

• O.V. Alagesan Street: Rs 3,600 per sq.ft (2024)
• Oragadam Road: Rs 6,600 per sq.ft (2024)
• Oragadam Cross Road: Rs 5,100 per sq.ft (2024)
• Padmanaba naidu Street: Rs 4,000 per sq.ft (2024)
• Old township Road: Rs 6,600 per sq.ft (2024)
• Old post office Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in O.V .Alagesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, leading to a combined total of Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers O.V .Alagesan Nagar?

The Sub Registrar Office that covers O.V .Alagesan Nagar 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 Ambattur

The guideline value is a crucial factor in the registration process when buying or selling property in Ambattur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory expenses incurred during property transactions.

Frequently asked questions

What is the current guideline value of O.V .Alagesan Nagar?

The current guideline value of O.V .Alagesan Nagar is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then back to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

What are the stamp duty and registration fees for property in O.V .Alagesan Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 36,00,000. The stamp duty at 7% is Rs 2,52,000, and the registration fee at 2% is Rs 72,000, totaling Rs 3,24,000.

Which office handles property registrations in O.V .Alagesan Nagar?

The Ambattur Sub Registrar Office handles property registrations for O.V .Alagesan Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of O.V .Alagesan Nagar?

O.V .Alagesan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.