Guideline Value for O.V. Alagesan Street

O.V. Alagesan Street guideline value

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

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

The guideline value of O.V. Alagesan Street has seen several changes over the years. In 2012, the guideline value was Rs 3,300 per sq.ft. This figure decreased to Rs 2,211 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,300 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,600 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for O.V. Alagesan Street. Overall, the guideline value has increased by 9% from 2012 to 2024.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value among these streets is Rs 3,600 per sq.ft, which is equal to the current guideline value of O.V. Alagesan Street.

• O.V .Alagesan Nagar: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost for these fees to Rs 3,24,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The O.V. Alagesan Street is covered by 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 details.

How the guideline value is used when you buy or sell in Ambattur

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration process will utilize the higher value between the guideline value and the agreed sale price for calculating duties and fees.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the registration process. It helps in determining the financial obligations associated with property transactions, including stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of O.V. Alagesan Street 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 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 properties in O.V. Alagesan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,24,000.

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

The Ambattur Sub Registrar Office covers O.V. Alagesan Street, 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 Street?

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