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

Sivaraj Street (V.L.Puram) guideline value

The current guideline value of Sivaraj 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, classified as Residential Special Type - I.

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

The guideline value for Sivaraj Street (V.L.Puram) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,200 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 reflects a 9% increase. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

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

• Sivaraman Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Sivankoil Street: Rs 1,600 per sq.ft (2024)
• Sivashanmugam Pillai Street: Rs 1,600 per sq.ft (2024)
• Sivashanmugam Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Sivaji Ganesan Street (S.V. Nagar): Rs 1,600 per sq.ft (2024)
• Sir.C.V.Raman Street: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be 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 duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Sivaraj 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. 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 during the registration of property transactions in Oragadam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges reflect the current market conditions as determined by the state authorities.

When buying or selling property, it is essential to be aware of the guideline value, as it is used to assess the financial obligations involved in the transaction. This ensures that both buyers and sellers are informed of the costs associated with property registration.

Frequently asked questions

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

The current guideline value of Sivaraj 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 2023 to Rs 2,400 per sq.ft in 2024, a 9% increase. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, showing various changes over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Sivaraj Street (V.L.Puram)?

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

What is the land classification for Sivaraj Street (V.L.Puram)?

Sivaraj Street (V.L.Puram) is classified as Residential Special Type - I, indicating its designation for residential purposes within the locality.