Guideline Value for VeeravanKulam Street

VeeravanKulam Street guideline value

The current guideline value of VeeravanKulam Street is Rs 1,800 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 I Type - II.

How the guideline value of VeeravanKulam Street has changed

The guideline value for VeeravanKulam Street has undergone several revisions since 2007. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, it saw a decrease to Rs 1,139 per sq.ft in 2017. The value then rose to Rs 1,700 per sq.ft in 2023, before reaching the current rate of Rs 1,800 per sq.ft in 2024, marking a 6% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 260%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a guideline value for 2024 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, indicating that VeeravanKulam Street's 2024 figure is below that median.

• Velankanni Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• VelanKanni Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Veeralakshmi Street (Banu Nagar East): Rs 2,200 per sq.ft (2024)
• Velmurugan Street: Rs 1,900 per sq.ft (2024)
• Vasuki Ammai Street (Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• Vasantha Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in VeeravanKulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. 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 VeeravanKulam Street?

The Sub Registrar Office that covers VeeravanKulam 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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to the government standards.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VeeravanKulam Street?

The current guideline value of VeeravanKulam Street is Rs 1,800 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 1,800 per sq.ft in 2024, marking an overall increase of 260% over the years.

What is the land classification for VeeravanKulam Street?

VeeravanKulam Street is classified as Residential Class I Type - II under the Ambattur SRO.

Where can I find the registration office for VeeravanKulam Street?

The registration office for VeeravanKulam Street is the Ambattur Sub Registrar Office, 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 Oragadam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 18,00,000 would incur a stamp duty of Rs 1,26,000 at 7%.