Guideline Value for Venkatachalapathi Street

Venkatachalapathi Street guideline value

The current guideline value of Venkatachalapathi Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Venkatachalapathi Street has changed

Over the years, the guideline value of Venkatachalapathi Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 400%. However, this value fell to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which then increased to Rs 1,600 per sq.ft in 2024, reflecting a growth of 7%.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 433%. It is important to note that the register has no 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 guideline values 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 Venkatachalapathi Street's 2024 figure below that median.

• Venkatachalam 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 Venkatachalapathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatachalapathi Street?

The Sub Registrar Office that covers Venkatachalapathi 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

When buying or selling property in Oragadam, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. The guideline value is used to assess the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value for their specific property to avoid any discrepancies during the registration process. The guideline value is regularly revised, reflecting changes in the real estate market and local development.

Frequently asked questions

What is the current guideline value of Venkatachalapathi Street?

The current guideline value of Venkatachalapathi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 433% over the years.

What is the land classification of Venkatachalapathi Street?

Venkatachalapathi Street is classified as Residential Class II Type - I, which influences its guideline value and potential uses.

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

The Sub Registrar Office for Venkatachalapathi Street is 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 Venkatachalapathi Street?

Stamp duty for properties in Venkatachalapathi Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total stamp duty and registration fee of Rs 1,44,000 at the current guideline value.