Guideline Value for Vairakulam Street

Vairakulam Street guideline value

The current guideline value of Vairakulam Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Vairakulam Street has changed

The guideline value for Vairakulam Street has undergone several revisions over the years. In 2002, the value was Rs 104 per sq.ft, which increased to Rs 112 per sq.ft in 2003. The value saw significant growth to Rs 300 per sq.ft in 2007, followed by a jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft from the 2024 revision, marking a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,438%. The register has no figures for the years not listed in the revisions, ensuring that all changes are accurately reflected.

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. Vairakulam Street's 2024 figure of Rs 1,600 per sq.ft is below this median.

• Vairam Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Vaikundam Street: Rs 1,600 per sq.ft (2024)
• Vageeswari amman (koil) Street V.L.Puram: Rs 2,400 per sq.ft (2024)
• Valarmathi Nagar: Rs 1,600 per sq.ft (2024)
• Valarmathi Street: Rs 1,600 per sq.ft (2024)
• Vallalar Street (Viyalakshmipuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vairakulam Street

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 fees to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vairakulam Street?

The Sub Registrar Office that covers Vairakulam 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 plays a crucial role 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 transactions reflect a fair value based on government assessments.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, safeguarding public interests.

Frequently asked questions

What is the current guideline value of Vairakulam Street?

The current guideline value of Vairakulam Street 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 seen significant changes, increasing from Rs 104 in 2002 to Rs 1,600 in 2024, which is an overall increase of 1,438%.

What are the other streets in Oragadam with similar guideline values?

Other streets in Oragadam with a guideline value of Rs 1,600 per sq.ft include Vairam Street, Vaikundam Street, Valarmathi Nagar, and Valarmathi Street.

How is stamp duty calculated for properties in Vairakulam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,12,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Vairakulam Street?

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