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

Vivekanantha Street(V.L.Puram) guideline value

The current guideline value of Vivekanantha 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, and it falls under the land classification of Residential Special Type - I.

How the guideline value of Vivekanantha Street(V.L.Puram) has changed

The guideline value for Vivekanantha Street(V.L.Puram) has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it then dropped to Rs 1,474 per sq.ft in 2017. The value saw a substantial rise to Rs 2,200 per sq.ft in 2023 before reaching the current rate of Rs 2,400 per sq.ft in 2024. The changes between these revisions include a 267% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

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 of Rs 2,200 per sq.ft. The guideline value for Vivekanantha Street(V.L.Puram) is above this median.

• Vivekanantha Street(Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Vivekanandha Street (Gandhi Nagar): Rs 1,800 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 Vivekanantha 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 would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the 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 Vivekanantha Street(V.L.Puram)?

The Sub Registrar Office that covers Vivekanantha 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. 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 crucial factor in the registration process for property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Vivekanantha Street(V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, representing a 300% increase overall.

What are the stamp duty and registration fees for property in Vivekanantha Street(V.L.Puram)?

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 registrations for Vivekanantha Street(V.L.Puram)?

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

How does the guideline value affect property transactions in Oragadam?

The guideline value is used to determine the minimum registration value of a property, impacting the stamp duty and registration fees payable during a transaction in Oragadam.