Guideline Value for ORAGADAM CO-OP. HOUSING COLONY

Oragadam Co-Op. Housing Colony guideline value

The current guideline value of Oragadam Co-Op. Housing Colony is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Oragadam Co-Op. Housing Colony has changed

The guideline value for Oragadam Co-Op. Housing Colony has seen significant changes over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased to Rs 2,000 per sq.ft in both 2012 and 2023. The latest revision in 2024 raised the value to Rs 2,100 per sq.ft, marking a 5% increase from the previous year.

Notably, the 2012 to 2023 period did not see any change in the guideline value, remaining at Rs 2,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 740%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Oragadam Co-Op. Housing Colony is below this median.

• Om Sakthi Nagar (Near Pdr Nagar): Rs 2,700 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,600 per sq.ft (2024)
• Olympic Nagar: Rs 1,600 per sq.ft (2024)
• Old Post Office Road (New Colony): Rs 2,100 per sq.ft (2024)
• Padavattamman Nagar: Rs 1,600 per sq.ft (2024)
• Officers Avenue: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Oragadam Co-Op. Housing Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Oragadam Co-Op. Housing Colony?

The Sub Registrar Office that covers Oragadam Co-Op. Housing Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office will use the higher of the guideline value or the sale price to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Oragadam Co-Op. Housing Colony?

The current guideline value of Oragadam Co-Op. Housing Colony is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, marking an overall increase of 740%.

What is the land classification of Oragadam Co-Op. Housing Colony?

Oragadam Co-Op. Housing Colony is classified as Residential Class III Type - I.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated in Oragadam Co-Op. Housing Colony?

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 21,00,000, the stamp duty at 7% would be Rs 1,47,000.