Guideline Value for Saint Thamas Street (Venkateswara Nagar)

Saint Thamas Street (Venkateswara Nagar) guideline value

The current guideline value of Saint Thamas 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. The land classification for this area is Residential Class II Type - I.

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

Over the years, the guideline value for Saint Thamas Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision and further rose to Rs 1,600 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 7%.

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 Saint Thamas Street (Venkateswara Nagar) is below this median.

• Saint Thamas Street (A.K.A.Nagar): Rs 1,600 per sq.ft (2024)
• Sakthi vinayagar Koil Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Ruban Street (Pudur): Rs 1,900 per sq.ft (2024)
• Sampath Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Samy Chetty Street: Rs 1,600 per sq.ft (2024)
• Sangam Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Saint Thamas 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 amounts to Rs 16,00,000. The stamp duty at 7% would be 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 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 Saint Thamas Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Saint Thamas Street (Venkateswara Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Oragadam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it ensures compliance with legal requirements and helps in calculating the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Saint Thamas Street?

The current guideline value of Saint Thamas 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Saint Thamas Street?

The land classification for Saint Thamas Street (Venkateswara Nagar) is Residential Class II Type - I.

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

The Sub Registrar Office for Saint Thamas Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How is the stamp duty calculated for properties in this area?

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