Guideline Value for Thiruvalluvar Street (Venkateswara Nagar)

Thiruvalluvar Street (Venkateswara Nagar) guideline value

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

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

Over the years, the guideline value for Thiruvalluvar Street (Venkateswara Nagar) has seen significant changes. In 2007, the guideline value was Rs 500 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The most recent revisions show a rise to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

The overall change in guideline value from 2007 to 2024 is an increase of 220%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thiruvalluvar Street (Venkateswara Nagar) is below this median.

• Thiruvalluvar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Thiruvalluvar Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Thiruvengadam Pillai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Thiruvengadam Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar 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. Please note that the 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 details.

Which Sub Registrar Office covers Thiruvalluvar Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Thiruvalluvar 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 in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Street (Venkateswara Nagar)?

The current guideline value for Thiruvalluvar 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 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 220% over this period.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles the registration for Thiruvalluvar Street (Venkateswara Nagar)?

The Ambattur Sub Registrar Office handles the registration for Thiruvalluvar Street (Venkateswara Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

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

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