Guideline Value for Periyar Street (Venkateswara Nagar)

Periyar Street (Venkateswara Nagar) guideline value

The current guideline value of Periyar Street (Venkateswara Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Periyar Street (Venkateswara Nagar) has changed

The guideline value for Periyar Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at Rs 1,600 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Between the revisions, the changes are as follows: from 2007 to 2012, the value increased by 200%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it increased by 49%; and finally, from 2023 to 2024, it increased by 7%. The register has no figures for the years 2002 and 2003 for this street.

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. The guideline value of Periyar Street (Venkateswara Nagar) is below this median.

• Periyar Street (V.L. Puram): Rs 2,400 per sq.ft (2024)
• Periyar Street (A.K.A.Nagar): Rs 1,400 per sq.ft (2024)
• Perumal Koil Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Perumal Koil Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Perumal Koil Street (S.No.69): Rs 1,300 per sq.ft (2024)
• Perumal Koil Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street (Venkateswara Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Periyar Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Periyar Street (Venkateswara 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 crucial factor when registering property in Oragadam. It determines the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty and registration fees will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Periyar Street (Venkateswara Nagar)?

The current guideline value of Periyar Street (Venkateswara Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification for Periyar Street (Venkateswara Nagar)?

Periyar Street (Venkateswara Nagar) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in Oragadam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.