Guideline Value for Vishwanathan Street (Gandhi Nagar)

Vishwanathan Street (Gandhi Nagar) guideline value

The current guideline value of Vishwanathan Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vishwanathan Street (Gandhi Nagar) has changed

The guideline value for Vishwanathan Street (Gandhi Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which then dropped to Rs 1,139 per sq.ft in the 2017 revision. This was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49% to Rs 1,700 per sq.ft, and in the latest 2024 revision, it rose again by 6% to the current value of Rs 1,800 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%.

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 in this area is Rs 2,200 per sq.ft, which means that the current value of Vishwanathan Street (Gandhi Nagar) is below the median.

• Vivekanandha Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Vinayagapuram Main road: Rs 2,400 per sq.ft (2024)
• Vivekanantha Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Vivekanantha Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Viyasar Street: Rs 2,400 per sq.ft (2024)
• V.K.Menon Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vishwanathan Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, while the registration fee at 2% would be Rs 36,000. Together, the total cost for these fees would be Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishwanathan Street (Gandhi Nagar)?

The Sub Registrar Office that covers Vishwanathan Street (Gandhi 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 Oragadam

The guideline value plays a crucial role when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vishwanathan Street (Gandhi Nagar)?

The current guideline value of Vishwanathan Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2023 to Rs 1,800 per sq.ft in 2024, an increase of 6%. It was Rs 1,139 per sq.ft in 2017, showing a 49% increase to 2023.

What are the other streets with guideline values in Oragadam?

Other streets in Oragadam include Vivekanandha Street (Gandhi Nagar) at Rs 1,800 per sq.ft, Vinayagapuram Main road at Rs 2,400 per sq.ft, and Vivekanantha Street (Venkateswara Nagar) at Rs 1,600 per sq.ft, among others.

What is the stamp duty for property in Vishwanathan Street (Gandhi Nagar)?

The stamp duty for property in Vishwanathan Street (Gandhi Nagar) is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,26,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Vishwanathan Street (Gandhi Nagar)?

The Sub Registrar Office for Vishwanathan Street (Gandhi Nagar) is located at Ambattur Sub Registrar Office, Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.