Guideline Value for Gopal (swamy) Street (Ram Nagar)

Gopal (swamy) Street (Ram Nagar) guideline value

The current guideline value of Gopal (swamy) Street (Ram Nagar) is Rs 2,400 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 Special Type - I.

How the guideline value of Gopal (swamy) Street (Ram Nagar) has changed

The guideline value for Gopal (swamy) Street (Ram Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest revision in 2024 raised it to Rs 2,400 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change is an increase of 9%. The change from 2017 to 2023 reflects a significant increase of 49%, while the adjustment from 2012 to 2017 shows a decrease of 33%.

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. The median guideline value for these streets is Rs 2,200 per sq.ft, making the 2024 figure for Gopal (swamy) Street (Ram Nagar) above the median.

• Gopal Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Govindan Main Road (Palaniappa Nagar): Rs 2,200 per sq.ft (2024)
• Govindan Street (1st Ward): Rs 1,400 per sq.ft (2024)
• Govindan Street (Banu Nagar): Rs 2,200 per sq.ft (2024)
• Govindan Street (Ganapathi Nagar): Rs 1,400 per sq.ft (2024)
• Govindarajulu Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gopal (swamy) 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, and the registration fee at 2% would be Rs 48,000, making the total charges Rs 2,16,000. It is important to note that the stamp 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 precise calculations.

Which Sub Registrar Office covers Gopal (swamy) Street (Ram Nagar)?

The Gopal (swamy) Street (Ram Nagar) 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 property transactions in Oragadam, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the registration process.

When a property is sold, the sale price must be equal to or greater than the guideline value. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property based on the established guidelines.

Frequently asked questions

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

The current guideline value of Gopal (swamy) 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 increased 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 for Gopal (swamy) Street (Ram Nagar)?

The land classification for Gopal (swamy) Street (Ram Nagar) is Residential Special Type - I.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Gopal (swamy) Street (Ram Nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value of Rs 2,400 per sq.ft would incur a stamp duty of Rs 1,68,000.