Guideline Value for Patel Street (V.L.Puram)

Patel Street (V.L.Puram) guideline value

The current guideline value of Patel Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Patel Street (V.L.Puram) has changed

Over the years, the guideline value of Patel Street (V.L.Puram) has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was later reduced to Rs 1,474 per sq.ft in the 2017 revision. Subsequently, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest 2024 revision raised it further to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Patel Street (V.L.Puram) above this median with its guideline value of Rs 2,400 per sq.ft.

• Patel Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pasumpon Street: Rs 1,600 per sq.ft (2024)
• Pasumpon Salai (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pasumpon Salai Gandhi Nagar: Rs 1,600 per sq.ft (2024)
• Pattinathar Street: Rs 1,600 per sq.ft (2024)
• Periakannaiah Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Patel Street (V.L.Puram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. 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 Patel Street (V.L.Puram)?

The Sub Registrar Office that covers Patel Street (V.L.Puram) 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 further assistance.

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

The guideline value is an important factor when registering property transactions in Oragadam. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Patel Street (V.L.Puram)?

The current guideline value of Patel Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Patel Street (V.L.Puram)?

Patel Street (V.L.Puram) is classified as Residential Special Type - I.

Where can I find the registration office for Patel Street (V.L.Puram)?

The registration office for Patel Street (V.L.Puram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property in Patel Street (V.L.Puram)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.