Guideline Value for Veeralakshmi Street (Banu Nagar East)

Veeralakshmi Street (Banu Nagar East) guideline value

The current guideline value of Veeralakshmi Street (Banu Nagar East) is Rs 2,200 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 - II.

How the guideline value of Veeralakshmi Street (Banu Nagar East) has changed

The guideline value for Veeralakshmi Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 500 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 300%. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a drop of 33%. The value then rose sharply to Rs 2,000 per sq.ft in the 2023 revision, and now stands at Rs 2,200 per sq.ft from the 2024 revision, representing a 10% increase from the previous year.

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 340%, showcasing the fluctuations in property valuation over the years.

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 is the same as the current guideline value for Veeralakshmi Street (Banu Nagar East).

• VeeravanKulam Street: Rs 1,800 per sq.ft (2024)
• Vasuki Ammai Street (Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• Velankanni Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• VelanKanni Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Vasantha Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Varatharajan Street (Pudur): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Veeralakshmi Street (Banu Nagar East)

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 cost for these fees to Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Veeralakshmi Street (Banu Nagar East)?

The Sub Registrar Office that covers Veeralakshmi Street (Banu Nagar East) 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 benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers alike must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Therefore, understanding the guideline value is essential for anyone involved in property transactions in Oragadam.

Frequently asked questions

What is the current guideline value of Veeralakshmi Street (Banu Nagar East)?

The current guideline value of Veeralakshmi Street (Banu Nagar East) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value, which for a 1,000 sq.ft plot at Rs 2,200 per sq.ft totals Rs 22,00,000. The stamp duty is 7%, and the registration fee is 2% of this value.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Veeralakshmi Street (Banu Nagar East), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

Where can I find more information about guideline values in Oragadam?

For more information about guideline values in Oragadam, you can refer to the registration department's guideline value register or visit the respective links provided for other streets in the area.