Guideline Value for Prakasam (Garu) Street (V.L.Puram)

Prakasam (Garu) Street (V.L.Puram) guideline value

The current guideline value of Prakasam (Garu) 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 Prakasam (Garu) Street (V.L.Puram) has changed

Over the years, the guideline value of Prakasam (Garu) Street has undergone several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 2,200 per sq.ft in the 2023 revision, and then rose to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 9% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Prakasam (Garu) Street (V.L.Puram) above that median with its current value of Rs 2,400 per sq.ft.

• Prakasam Street(1st Ward): Rs 1,100 per sq.ft (2024)
• Prakash Nagar: Rs 2,400 per sq.ft (2024)
• Pudhu Street: Rs 1,900 per sq.ft (2024)
• Pushpa Nagar: Rs 1,600 per sq.ft (2024)
• Pushpa Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Puthur highways: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Prakasam (Garu) 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, calculated at 7%, would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for stamp duty and registration fee would be 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prakasam (Garu) Street (V.L.Puram)?

The Prakasam (Garu) Street (V.L.Puram) falls under the jurisdiction of the Ambattur Sub Registrar Office. The address is Ambattur Sub Registrar Office, Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty based on the property's value.

When buying or selling property, the guideline value helps both parties understand the expected financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Prakasam (Garu) 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 increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the classification of land on Prakasam (Garu) Street (V.L.Puram)?

The land classification for Prakasam (Garu) Street (V.L.Puram) is Residential Special Type - I.

Where can I find the Sub Registrar Office for Prakasam (Garu) Street (V.L.Puram)?

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

What is the range of guideline values for other streets in Oragadam?

The guideline values for other streets in Oragadam range from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Prakasam (Garu) Street (V.L.Puram) is currently above this median with its value of Rs 2,400 per sq.ft.