Guideline Value for Bharathi Street (Ram Nagar)

Bharathi Street (Ram Nagar) guideline value

The current guideline value of Bharathi Street (Ram Nagar) 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 Bharathi Street (Ram Nagar) has changed

Over the years, the guideline value of Bharathi Street (Ram Nagar) has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. The guideline value then increased significantly to Rs 2,200 per sq.ft in the 2023 revision, and further rose to Rs 2,400 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, the guideline value has increased by 9% from 2012 to 2024. 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 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. Bharathi Street (Ram Nagar) has a guideline value above this median, reflecting its unique characteristics.

• Bharathi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Bharathi Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Bharathi Street (A.K.A.Nagar): Rs 1,400 per sq.ft (2024)
• Bharathi Street (1, 2, 3 Cross Street V.L. Puram): Rs 2,400 per sq.ft (2024)
• Bharathiyar Street (Ganthi Nagar): Rs 1,800 per sq.ft (2024)
• Bharathiyar Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street (Ram Nagar)

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, while the registration fee at 2% would be Rs 48,000, making the total fees 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Street (Ram Nagar)?

The Sub Registrar Office that covers Bharathi Street (Ram 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 information.

How the guideline value is used when you buy or sell in Oragadam

The guideline value plays a crucial role during the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is registered, the buyer and seller must adhere to the guideline value as it is used to calculate the necessary fees. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bharathi Street (Ram Nagar)?

The current guideline value of Bharathi Street (Ram Nagar) 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 is the land classification of Bharathi Street (Ram Nagar)?

Bharathi Street (Ram Nagar) is classified as Residential Special Type - I.

What is the stamp duty rate for property transactions in Bharathi Street (Ram Nagar)?

The stamp duty rate for property transactions in Bharathi Street (Ram Nagar) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathi Street (Ram Nagar)?

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