Guideline Value for Vengan Choudry Main Road (Rajammal nagar)

Vengan Choudry Main Road (Rajammal nagar) guideline value

The current guideline value of Vengan Choudry Main Road (Rajammal nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Ayappakkam village and falls under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Vengan Choudry Main Road (Rajammal nagar) has changed

The guideline value for Vengan Choudry Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 400 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, by 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then surged to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,300 per sq.ft in 2024, reflecting an 8% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the increase is 225%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,300 per sq.ft, which matches the current guideline value of Vengan Choudry Main Road.

• Venkataswara Nagar: Rs 880 per sq.ft (2024)
• Veerapathiran street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• VGN Serenity Grove: Rs 2,200 per sq.ft (2024)
• VGN Serenity Grove Phase - II: Rs 3,300 per sq.ft (2024)
• Vijayalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Vinayakar Koil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vengan Choudry Main Road (Rajammal nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vengan Choudry Main Road (Rajammal nagar)?

The Sub Registrar Office that covers Vengan Choudry Main Road (Rajammal nagar) 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per the government's regulations.

When buying or selling property, the guideline value helps in assessing the legal and financial implications of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vengan Choudry Main Road?

The current guideline value of Vengan Choudry Main Road (Rajammal nagar) is Rs 1,300 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 1,300 per sq.ft in 2024, reflecting an overall increase of 225% over the years.

What is the stamp duty for property on this road?

The stamp duty for property on Vengan Choudry Main Road is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Vengan Choudry Main Road?

The Ambattur Sub Registrar Office handles property registrations for Vengan Choudry Main Road (Rajammal nagar).

What other streets in Ayappakkam have guideline values?

Other streets in Ayappakkam have varying guideline values, with some streets like Veerapathiran street (Bhavani nagar) at Rs 1,600 per sq.ft and VGN Serenity Grove at Rs 2,200 per sq.ft.