Guideline Value for Valluvar Street (S.V.Nagar)

Valluvar Street (S.V.Nagar) guideline value

The current guideline value of Valluvar Street (S.V.Nagar) 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 Valluvar Street (S.V.Nagar) has changed

The guideline value for Valluvar Street (S.V.Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value significantly increased to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% increase from the previous year.

Notably, the register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 7%, demonstrating the fluctuations in property valuation in this area.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values 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 Valluvar Street (S.V.Nagar) below this median value.

• Valliammal Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Vallalar Street (Viyalakshmipuram): Rs 2,400 per sq.ft (2024)
• Valarmathi Street: Rs 1,600 per sq.ft (2024)
• Valarmathi Nagar: Rs 1,600 per sq.ft (2024)
• Varalakshmiamman Street: Rs 2,200 per sq.ft (2024)
• Varalakshmi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Street (S.V.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluvar Street (S.V.Nagar)?

The Sub Registrar Office that covers Valluvar Street (S.V.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 details.

How the guideline value is used when you buy or sell in Oragadam

The guideline value is a crucial factor during property registration in Oragadam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Valluvar Street (S.V.Nagar)?

The current guideline value of Valluvar Street (S.V.Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, a 7% rise.

What is the land classification of Valluvar Street (S.V.Nagar)?

Valluvar Street (S.V.Nagar) is classified as Residential Class II Type - I, indicating its designated use for residential purposes.

Which office handles property registrations in this area?

The Ambattur Sub Registrar Office is responsible for property registrations in Valluvar Street (S.V.Nagar). It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Valluvar Street (S.V.Nagar)?

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