Guideline Value for V.V.Giri Street

V.V.Giri Street guideline value

The current guideline value of V.V.Giri Street in Oragadam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of V.V.Giri Street has changed

The guideline value for V.V.Giri Street has seen significant changes over the years. Starting from Rs 89 per sq.ft in 2002, it increased to Rs 110 per sq.ft in 2003. The value then surged to Rs 600 per sq.ft in 2007, followed by a remarkable rise to Rs 2,200 per sq.ft in 2012. However, it decreased to Rs 1,474 per sq.ft in 2017 before climbing to Rs 2,200 per sq.ft in 2023. The latest revision in 2024 sets the guideline value at Rs 2,400 per sq.ft.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 is 9%. The most notable increase occurred from 2002 to 2024, with an overall rise of 2,597% in the guideline value over these years.

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. The median guideline value for these streets is Rs 2,200 per sq.ft, placing V.V.Giri Street's 2024 figure above that median.

• V.O.C.Street V.L.Puram: Rs 2,400 per sq.ft (2024)
• V.O.C Street (S.No.69): Rs 1,100 per sq.ft (2024)
• V.O.C.Street Ram Nagar: Rs 2,400 per sq.ft (2024)
• V.O.C.Street (A.K.A.Nagar): Rs 1,400 per sq.ft (2024)
• V.K.Menon Street: Rs 2,400 per sq.ft (2024)
• Viyasar Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in V.V.Giri Street

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, leading to a total of 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.

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

Which Sub Registrar Office covers V.V.Giri Street?

The Sub Registrar Office that covers V.V.Giri Street 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 minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and fairly, in accordance with government regulations.

Frequently asked questions

What is the current guideline value of V.V.Giri Street?

The current guideline value of V.V.Giri Street 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 increased from Rs 89 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 2,597% over this period.

What is the land classification for V.V.Giri Street?

V.V.Giri Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for V.V.Giri Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, 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.