Guideline Value for Lal bhagadur sasthri Street (Ram Nagar)

Lal bhagadur sasthri Street (Ram Nagar) guideline value

The current guideline value of Lal bhagadur sasthri 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 and is classified as Residential Special Type - I.

How the guideline value of Lal bhagadur sasthri Street (Ram Nagar) has changed

Over the years, the guideline value for Lal bhagadur sasthri Street (Ram Nagar) has seen several revisions. The 2007 revision recorded a value of Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a 267% increase. However, this value decreased to Rs 1,474 per sq.ft in the 2017 revision, reflecting a decline of 33%. The guideline value then rose to Rs 2,200 per sq.ft in 2023, a substantial increase of 49% from the previous revision. The latest revision in 2024 set the value at Rs 2,400 per sq.ft, representing a 9% increase from 2023.

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

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values 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, placing Lal bhagadur sasthri Street (Ram Nagar) above this median with its current value of Rs 2,400 per sq.ft.

• Lard Baba Street: Rs 2,400 per sq.ft (2024)
• Levenabeer Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Lakshmiamman Street (Pudur): Rs 1,900 per sq.ft (2024)
• Lakshmi amman Nagar: Rs 1,800 per sq.ft (2024)
• Madurai veeran Street: Rs 1,800 per sq.ft (2024)
• Lakshmanasamy Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lal bhagadur sasthri 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 would be calculated at 7%, amounting to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Lal bhagadur sasthri Street (Ram Nagar)?

The Lal bhagadur sasthri Street (Ram Nagar) falls under the jurisdiction of the Ambattur Sub Registrar Office. The office is 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. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The higher of the guideline value or the sale price is considered for calculating these fees, ensuring that the government receives the appropriate revenue from property transactions.

When selling a property, the guideline value can also influence the selling price, as it provides a benchmark for both buyers and sellers. Understanding the guideline value helps in making informed decisions during property transactions in Oragadam.

Frequently asked questions

What is the current guideline value of Lal bhagadur sasthri Street (Ram Nagar)?

The current guideline value of Lal bhagadur sasthri 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 significantly 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 are the stamp duty and registration fees for property in Lal bhagadur sasthri 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.

Which office handles registrations for Lal bhagadur sasthri Street (Ram Nagar)?

The Ambattur Sub Registrar Office handles registrations for Lal bhagadur sasthri Street (Ram Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Lal bhagadur sasthri Street (Ram Nagar)?

The land classification for Lal bhagadur sasthri Street (Ram Nagar) is Residential Special Type - I.