Guideline Value for Venkatachalam Street

Venkatachalam Street guideline value

The current guideline value of Venkatachalam Street is Rs 1,600 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 II Type - I.

How the guideline value of Venkatachalam Street has changed

The guideline value for Venkatachalam Street has seen several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% increase. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in the 2023 revision, and most recently, it increased to Rs 1,600 per sq.ft in the 2024 revision, which is a 7% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 220%. It's important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Venkatachalam Street's 2024 value below this median.

• Venkatachalapathi Street: Rs 1,600 per sq.ft (2024)
• Venkataraman Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Velmurugan Street: Rs 1,900 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,600 per sq.ft (2024)
• VelanKanni Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Velankanni Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. Please note that the 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 precise calculations.

Which Sub Registrar Office covers Venkatachalam Street?

The Sub Registrar Office that covers Venkatachalam 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 critical factor in property transactions in Oragadam, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the registration fee and stamp duty are calculated based on this guideline value or the actual sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Venkatachalam Street?

The current guideline value of Venkatachalam Street is Rs 1,600 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 1,600 per sq.ft in 2024, showing an overall increase of 220% over the years.

What is the land classification for Venkatachalam Street?

Venkatachalam Street is classified as Residential Class II Type - I, which is significant for property transactions in this area.

Where can I find the Sub Registrar Office for Venkatachalam Street?

The Sub Registrar Office for Venkatachalam 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 the stamp duty calculated for properties in Venkatachalam Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total stamp duty would be Rs 1,12,000.