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

VelanKanni Street (V.L.Puram) guideline value

The current guideline value of VelanKanni Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Special Type - I.

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

The guideline value for VelanKanni Street (V.L.Puram) has undergone several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 2,400 per sq.ft, an increase of 9% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value for VelanKanni Street (V.L.Puram) is above this median.

• Velankanni Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• VeeravanKulam Street: Rs 1,800 per sq.ft (2024)
• Velmurugan Street: Rs 1,900 per sq.ft (2024)
• Veeralakshmi Street (Banu Nagar East): Rs 2,200 per sq.ft (2024)
• Venkatachalam Street: Rs 1,600 per sq.ft (2024)
• Venkatachalapathi Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in VelanKanni 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 would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total charges Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating these fees.

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

The Sub Registrar Office that covers VelanKanni 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 factor in property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the stamp duty and registration fees are calculated 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 VelanKanni Street (V.L.Puram)?

The current guideline value of VelanKanni 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 back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

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

VelanKanni Street (V.L.Puram) is classified as Residential Special Type - I.

What are the registration fees for property in VelanKanni Street (V.L.Puram)?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for VelanKanni Street (V.L.Puram)?

The Sub Registrar Office for VelanKanni 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.