Guideline Value for ODAMA VARASIDHI VINAYAGAR KOIL STREET / VALLIAMMAL NAGAR

Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar guideline value

The current guideline value of Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar has changed

The guideline value for Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, reflecting a rise of 100%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, marking a decline of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value of Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar is below this median.

• Om Sakthi Nagar: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Oodama Nagar: Rs 1,100 per sq.ft (2024)
• Painthamil Nagar: Rs 1,320 per sq.ft (2024)
• Palaniappa Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 11,00,000. The stamp duty at 7% amounts to Rs 77,000, and the registration fee at 2% is Rs 22,000, totaling Rs 99,000. 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 Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar?

The Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

When buying or selling property in Vanagaram, the guideline value is crucial as it determines the stamp duty and registration fees payable at the time of registration. The value is set by the government and is periodically revised to reflect market conditions.

Buyers should be aware that the guideline value may differ from the actual sale price of the property. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar?

The current guideline value of Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 120% over the years.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft property, the total stamp duty and registration fees amount to Rs 99,000, calculated based on the guideline value of Rs 11,00,000.

Which Sub Registrar Office is responsible for this street?

The Chennai South Joint I Sub Registrar Office is responsible for Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for this street?

The land classification for Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar is Residential Class IV Type - III.