Guideline Value for Valarmathi Street

Valarmathi Street guideline value

The current guideline value of Valarmathi 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 Valarmathi Street has changed

The guideline value for Valarmathi Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, by 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

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

• Valarmathi Nagar: 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 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, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, these fees would total Rs 1,44,000. It is important to note that 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 Valarmathi Street?

The Sub Registrar Office that covers Valarmathi 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 when buying or selling property in Oragadam. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value impacts the overall cost of property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value as per government standards. This helps in maintaining transparency and compliance with legal requirements in property dealings.

Frequently asked questions

What is the current guideline value of Valarmathi Street?

The current guideline value of Valarmathi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,600 per sq.ft in 2024, marking an overall increase of 300%.

What is the land classification of Valarmathi Street?

Valarmathi Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Valarmathi Street is 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 Valarmathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.