Guideline Value for Valarmathi Nagar

Valarmathi Nagar guideline value

The current guideline value of Valarmathi Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,600 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Valarmathi Nagar has changed

The guideline value for Valarmathi Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 141 per sq.ft. This increased to Rs 152 per sq.ft in 2003, marking an 8% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, which was a 163% increase. In 2012, the value remained at Rs 1,500 per sq.ft, indicating no recorded figure for this street in that year. However, in 2017, it rose to Rs 1,005 per sq.ft, reflecting a decrease of 33% from the previous figure.

In 2023, the guideline value increased to Rs 1,500 per sq.ft, and then it rose again to Rs 1,600 per sq.ft in 2024, which is a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,035% for Valarmathi Nagar.

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. Valarmathi Nagar's current guideline value is below this median.

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

Stamp duty and registration fee for property in Valarmathi 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, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valarmathi Nagar?

The Sub Registrar Office that covers Valarmathi 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 critical factor in the registration process when buying or selling property in Oragadam. It serves as a base value for calculating the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Valarmathi Nagar?

The current guideline value of Valarmathi 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 increased from Rs 141 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 1,035% over the years.

What are the stamp duty and registration fees for property in Valarmathi Nagar?

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 Sub Registrar Office covers Valarmathi Nagar?

The Ambattur Sub Registrar Office covers Valarmathi Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Valarmathi Nagar?

The land classification for Valarmathi Nagar is Residential Class II Type - I, indicating its designated use for residential purposes.