Guideline Value for Velmurugan Street

Velmurugan Street guideline value

The current guideline value of Velmurugan Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Velmurugan Street has changed

The guideline value for Velmurugan Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a 350% rise. However, from 2012 to 2017, it decreased to Rs 1,206 per sq.ft, a decline of 33%. The value then rose sharply to Rs 1,800 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 1,900 per sq.ft in 2024, which is a 6% increase.

The register has no figure for Velmurugan Street in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 375%.

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, with a median value of Rs 2,200 per sq.ft. Velmurugan Street's 2024 guideline value is below this median.

• VelanKanni Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Velankanni Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Venkatachalam Street: Rs 1,600 per sq.ft (2024)
• Venkatachalapathi Street: Rs 1,600 per sq.ft (2024)
• VeeravanKulam Street: Rs 1,800 per sq.ft (2024)
• Venkataraman Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Velmurugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Velmurugan Street?

The Sub Registrar Office that covers Velmurugan 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 plays a crucial role in the registration process of property transactions in Oragadam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Velmurugan Street?

The current guideline value of Velmurugan Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, marking an overall increase of 375% over the years.

What is the stamp duty on property in Velmurugan Street?

The stamp duty on property in Velmurugan Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Velmurugan Street located?

The Sub Registrar Office for Velmurugan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value for streets in Oragadam?

The median guideline value for streets in Oragadam is Rs 2,200 per sq.ft, with Velmurugan Street's 2024 value being below this median.