Guideline Value for O.V. Alagesan Street

O.V. Alagesan Street guideline value

The current guideline value of O.V. Alagesan Street is Rs 1,980 per sq.ft. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class III Type - I.

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

The guideline value for O.V. Alagesan Street has seen significant changes over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in 2012, marking a rise of 620%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a decline of 33%. The value then rose again to Rs 1,800 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% increase since the last revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 692%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. O.V. Alagesan Street's 2024 guideline value is below this median.

• Padmam Garden: Rs 3,960 per sq.ft (2024)
• Padmavathi Nagar: Rs 2,970 per sq.ft (2024)
• N.T.R.Garden: Rs 1,980 per sq.ft (2024)
• Pananchalai: Rs 1,650 per sq.ft (2024)
• Panchayat Board Street: Rs 2,640 per sq.ft (2024)
• N.G.O.Colony: Rs 3,960 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 rate of Rs 1,980 per sq.ft, the guideline value would be Rs 19,80,000. The stamp duty, calculated at 7%, would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers O.V. Alagesan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Perungalathur, as it determines the minimum value at which a property can be registered. When buying or selling, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with legal requirements.

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 1,980 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 692% over the years.

What is the median guideline value for streets in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft according to the 2024 figures.

What are the stamp duty rates for properties in O.V. Alagesan Street?

The stamp duty for properties in O.V. Alagesan Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for O.V. Alagesan Street?

The Padappai Sub Registrar Office handles registrations for O.V. Alagesan Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.