Guideline Value for Iyappan Street (Ram Nagar)

Iyappan Street (Ram Nagar) guideline value

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

The guideline value for Iyappan Street (Ram Nagar) has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it saw a decrease to Rs 1,474 per sq.ft in 2017. The value then rose to Rs 2,200 per sq.ft in 2023, and finally, it reached Rs 2,400 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Oragadam

In Oragadam village, 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. Iyappan Street (Ram Nagar) has a guideline value above this median.

• Iyappan Street (Palaniappa Nagar): Rs 2,200 per sq.ft (2024)
• Iyappan Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Iyankulam Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Iyyappan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Nagar: Rs 1,400 per sq.ft (2024)
• Indira Gandhi Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan 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 amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Iyappan 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 is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value is referred to in order to determine the applicable duties. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the property transfer process.

Frequently asked questions

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

The current guideline value of Iyappan 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 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, with various revisions in between. The most recent increase was from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024.

What is the land classification for Iyappan Street (Ram Nagar)?

Iyappan Street (Ram Nagar) is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Iyappan Street (Ram Nagar)?

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. These fees are based on the guideline value.

Where is the Ambattur Sub Registrar Office located?

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