Guideline Value for Vasantha Street (V.L.Puram)

Vasantha Street (V.L.Puram) guideline value

The current guideline value of Vasantha Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vasantha Street (V.L.Puram) has changed

The guideline value for Vasantha Street (V.L.Puram) has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 1,474 per sq.ft. The value then increased significantly to Rs 2,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 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 guideline value for these streets is Rs 2,200 per sq.ft, placing Vasantha Street's 2024 figure above this median.

• Vasuki Ammai Street (Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• Varatharajan Street (Pudur): Rs 1,900 per sq.ft (2024)
• Varalakshmi Street (Banu Nagar): Rs 2,200 per sq.ft (2024)
• Varalakshmi Street: Rs 2,200 per sq.ft (2024)
• Varalakshmiamman Street: Rs 2,200 per sq.ft (2024)
• Veeralakshmi Street (Banu Nagar East): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantha Street (V.L.Puram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total cost for these fees Rs 2,16,000. 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 to estimate your costs.

Which Sub Registrar Office covers Vasantha Street (V.L.Puram)?

The Sub Registrar Office that covers Vasantha Street (V.L.Puram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial aspect of property transactions in Oragadam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the buying or selling process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vasantha Street (V.L.Puram)?

The current guideline value of Vasantha Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the stamp duty and registration fees for Vasantha Street (V.L.Puram)?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Vasantha Street (V.L.Puram)?

The Ambattur Sub Registrar Office covers Vasantha Street (V.L.Puram). It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Vasantha Street (V.L.Puram)?

The land classification for Vasantha Street (V.L.Puram) is Residential Special Type - I, which indicates its designated use within the area.