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

Venkataraman Street (V.L.Puram) guideline value

The current guideline value of Venkataraman 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 Venkataraman Street (V.L.Puram) has changed

Over the years, the guideline value of Venkataraman Street has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,200 per sq.ft, which was then raised to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%, but since then, the value has increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 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 is Rs 2,200 per sq.ft, placing Venkataraman Street's 2024 figure above this median.

• Venkatachalapathi Street: Rs 1,600 per sq.ft (2024)
• Venkatachalam Street: Rs 1,600 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,600 per sq.ft (2024)
• Velmurugan Street: Rs 1,900 per sq.ft (2024)
• Venkateshwara Nagar extension: Rs 1,600 per sq.ft (2024)
• Venkateswara Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman 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 amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. It is important to note that 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 detailed calculations.

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

The Sub Registrar Office that covers Venkataraman 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 when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately with the appropriate authorities.

Frequently asked questions

What is the current guideline value of Venkataraman Street (V.L.Puram)?

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

What are the stamp duty and registration fees for properties in Venkataraman Street?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which office handles the registration for Venkataraman Street?

The Ambattur Sub Registrar Office handles the registration for Venkataraman Street (V.L.Puram), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Venkataraman Street?

Venkataraman Street (V.L.Puram) is classified as Residential Special Type - I, indicating its designated use for residential purposes.