Guideline Value for Orange Street

Orange Street guideline value

The current guideline value of Orange Street in Madipakkam-1 village is Rs 1,650 per sq.ft, effective from the 2024 revision. This street falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Orange Street has changed

The guideline value for Orange Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This was followed by a significant increase to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value further to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 64%, with a notable jump of 49% from 2017 to 2023. Such changes illustrate the evolving valuation of properties in this area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Orange Street's 2024 figure below that median.

• Om Sakthi Street: Rs 2,750 per sq.ft (2024)
• Otteri Salai (Mandaveli Street): Rs 3,300 per sq.ft (2024)
• Otterry Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Ottery Road: Rs 3,300 per sq.ft (2024)
• Ottery Road 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Om Sakthi Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Orange Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. It is important to note that 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 Orange Street?

The Sub Registrar Office that covers Orange Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Orange Street?

The current guideline value of Orange Street is Rs 1,650 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024. This represents a total increase of 64% over the period.

What are the stamp duty and registration fees for properties on Orange Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Orange Street?

The Velacheri Sub Registrar Office handles property registrations for Orange Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price at which a property can be registered. It is also essential for calculating stamp duty and registration fees during property transactions.