Guideline Value for Park Street (Lakshmiamman Nagar)

Park Street (Lakshmiamman Nagar) guideline value

The current guideline value of Park Street (Lakshmiamman Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class I Type - II.

How the guideline value of Park Street (Lakshmiamman Nagar) has changed

The guideline value for Park Street (Lakshmiamman Nagar) has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,700 per sq.ft in 2012, marking a substantial rise of 325%. However, it then decreased to Rs 1,139 per sq.ft in 2017, a drop of 33%. The value saw a significant increase again to Rs 1,700 per sq.ft in 2023, followed by another rise to Rs 1,800 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%, culminating in the current rate of Rs 1,800 per sq.ft. Overall, from the 2007 revision to the 2024 revision, there has been a total increase of 350% in the guideline value for this street. The register has no figures for the years 2002 and 2003.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Park Street (Lakshmiamman Nagar) is below this median value.

• Pari Sambandar Street: Rs 1,600 per sq.ft (2024)
• Parameswaran Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Pasumpon Salai Gandhi Nagar: Rs 1,600 per sq.ft (2024)
• Pasumpon Salai (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pasumpon Street: Rs 1,600 per sq.ft (2024)
• Pannerselvam Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Park Street (Lakshmiamman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. It is important to note that the 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 Park Street (Lakshmiamman Nagar)?

The Sub Registrar Office covering Park Street (Lakshmiamman Nagar) is 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 information.

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

The guideline value is a critical factor in property transactions in Oragadam. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing a property. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

When selling a property, the guideline value helps both buyers and sellers understand the official value assigned to the property by the government. This ensures transparency in transactions and helps in calculating the taxes due at the time of registration.

Frequently asked questions

What is the current guideline value of Park Street (Lakshmiamman Nagar)?

The current guideline value of Park Street (Lakshmiamman Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant changes, from Rs 400 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024. Notable changes include a rise of 325% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What is the classification of Park Street (Lakshmiamman Nagar)?

Park Street (Lakshmiamman Nagar) is classified as Residential Class I Type - II. This classification affects the guideline value and the property regulations in the area.

What is the range of guideline values in Oragadam?

The guideline values in Oragadam range from Rs 1,100 to Rs 3,500 per sq.ft in 2024, with a median value of Rs 2,200 per sq.ft. Park Street's guideline value is below this median.

Where can I find the Sub Registrar Office for Park Street (Lakshmiamman Nagar)?

The Sub Registrar Office for Park Street (Lakshmiamman Nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.