Guideline Value for Kumaran Cross Street (Ram Nagar)

Kumaran Cross Street (Ram Nagar) guideline value

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

The guideline value for Kumaran Cross Street (Ram Nagar) has seen 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, marking a substantial rise of 267%. However, by 2017, the value decreased to Rs 1,474 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,200 per sq.ft in 2023, and most recently, it has increased to Rs 2,400 per sq.ft in the 2024 revision, which is a 9% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The revisions indicate a fluctuating trend, with the most significant increase occurring between 2007 and 2012, followed by a notable rise from 2017 to 2023. The current rate of Rs 2,400 per sq.ft places this street above the median guideline value for Oragadam.

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. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Kumaran Cross Street (Ram Nagar) above that median.

• Kumaran Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Kulakkarai Street: Rs 1,600 per sq.ft (2024)
• Kumaran Street (1st Ward): Rs 1,400 per sq.ft (2024)
• Kumaran Street (Puthur): Rs 1,900 per sq.ft (2024)
• Kumaran Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Kumaran Street (V.L. Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Cross 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, charged at 7%, would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, these fees would total 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Cross Street (Ram Nagar)?

The Sub Registrar Office that covers Kumaran Cross 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor 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 the transaction is recorded at a fair value according to government standards.

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, and it also helps maintain transparency in the real estate market.

Frequently asked questions

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

The current guideline value of Kumaran Cross 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, marking an overall increase of 300% over the years.

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

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

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office for Kumaran Cross Street (Ram Nagar)?

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