Guideline Value for Vivekanandha Street (Gandhi Nagar )

Vivekanandha Street (Gandhi Nagar ) guideline value

The current guideline value of Vivekanandha Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class I Type - II.

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

The guideline value for Vivekanandha Street (Gandhi Nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012, marking a rise of 325%. However, it dropped to Rs 1,139 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased sharply to Rs 1,700 per sq.ft in 2023, and further to Rs 1,800 per sq.ft in 2024, which is a 6% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 350%, showcasing significant fluctuations throughout the years.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vivekanandha Street (Gandhi Nagar) is below this median.

• 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)
• Vishwanathan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• V.O.C.Street (A.K.A.Nagar): Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandha 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, and the registration fee at 2% would be Rs 36,000, making the total fees Rs 1,62,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Vivekanandha Street (Gandhi Nagar) area falls under 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 plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Vivekanandha 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 400 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What are the stamp duty and registration fees for property in Vivekanandha Street (Gandhi Nagar)?

For a 1,000 sq.ft property at the current guideline value, the total fees would be Rs 1,62,000, which includes a stamp duty of Rs 1,26,000 and a registration fee of Rs 36,000.

Which Sub Registrar Office is responsible for Vivekanandha Street (Gandhi Nagar)?

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

What is the land classification of Vivekanandha Street (Gandhi Nagar)?

Vivekanandha Street (Gandhi Nagar) is classified as Residential Class I Type - II, indicating its suitability for residential development.