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

Srinivasan Street (V.L.Puram) guideline value

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

The guideline value for Srinivasan Street (V.L.Puram) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which then dropped to Rs 1,474 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase to Rs 2,200 per sq.ft in the 2023 revision, followed by a further rise to Rs 2,400 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 9%. The revisions for the years 2002, 2003, and 2007 do not have any figures registered for this street.

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 Srinivasan Street (V.L.Puram) above this median.

• Srinivasa Perumal Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Sri lakshmi Nagar: Rs 1,400 per sq.ft (2024)
• S.S.Koil Street: Rs 1,600 per sq.ft (2024)
• Subash Chandrabose Street: Rs 2,200 per sq.ft (2024)
• Subramaniar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Subramani Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan 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, while the registration fee at 2% would be Rs 48,000, bringing the total fees to 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 more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Srinivasan 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value helps in establishing the minimum value for registration purposes. This ensures that the transaction is recorded accurately in the official registry, providing legal clarity and protection for both buyers and sellers.

Frequently asked questions

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

The current guideline value of Srinivasan 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 land classification for Srinivasan Street (V.L.Puram)?

Srinivasan Street (V.L.Puram) is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft property, the total fees would amount to Rs 2,16,000.

Which office handles registrations for Srinivasan Street (V.L.Puram)?

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