Guideline Value for Varalakshmi Street

Varalakshmi Street guideline value

The current guideline value of Varalakshmi Street in Oragadam village, under the Ambattur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Varalakshmi Street has changed

The guideline value for Varalakshmi Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft by 2012. However, the value then decreased to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

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 value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value of Varalakshmi Street.

• Varalakshmi Street(Banu Nagar): Rs 2,200 per sq.ft (2024)
• Varalakshmiamman Street: Rs 2,200 per sq.ft (2024)
• Varatharajan Street (Pudur): Rs 1,900 per sq.ft (2024)
• Vasantha Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Vasuki Ammai Street (Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• Valluvar Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Varalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Varalakshmi Street?

The Sub Registrar Office that covers Varalakshmi 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 the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

Frequently asked questions

What is the current guideline value of Varalakshmi Street?

The current guideline value of Varalakshmi Street is Rs 2,200 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 500 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification for Varalakshmi Street?

Varalakshmi Street is classified as Residential Special Type - II, which indicates its suitability for residential purposes.

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

The Sub Registrar Office for Varalakshmi Street is 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 guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,98,000.