Guideline Value for Thiruvengadam Street (Gandhi Nagar)

Thiruvengadam Street (Gandhi Nagar) guideline value

The current guideline value of Thiruvengadam Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thiruvengadam Street (Gandhi Nagar) has changed

The guideline value for Thiruvengadam Street (Gandhi Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which was then reduced to Rs 1,139 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,700 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,800 per sq.ft. 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 value increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 6%.

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. Thiruvengadam Street (Gandhi Nagar) is below this median value.

• Thiruvengadam Pillai Street(V.L.Puram): Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street (Venkateswara Nagar): Rs 1,600 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)

Stamp duty and registration fee for property in Thiruvengadam Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, making the total fees Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvengadam Street (Gandhi Nagar)?

The Sub Registrar Office that covers Thiruvengadam Street (Gandhi Nagar) is the Ambattur Sub Registrar Office. The address is 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 when registering 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 appropriate revenue through stamp duties and registration fees.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street (Gandhi Nagar)?

The current guideline value of Thiruvengadam Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then back to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024.

What is the land classification of Thiruvengadam Street (Gandhi Nagar)?

The land classification for Thiruvengadam Street (Gandhi Nagar) is Residential Class I Type - II.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 18,00,000, the stamp duty would be Rs 1,26,000 at a rate of 7%.