Guideline Value for Raja Street

Raja Street guideline value

The current guideline value of Raja Street in Oragadam village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Raja Street has changed

The guideline value for Raja Street has undergone several revisions over the years. In 2002, the value was Rs 118 per sq.ft, which increased to Rs 127 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, and then it jumped to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,600 per sq.ft in 2024.

Notably, the changes between revisions show a growth of 7% from 2023 to 2024, a 49% increase from 2017 to 2023, and a 400% increase from 2007 to 2012. The overall increase from 2002 to 2024 is an impressive 1,256%.

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. Raja Street's 2024 figure is below this median.

• Rajasekaran Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Rajendra Prasath 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Rajendra Prasath 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Rajendra Prasath 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Rajendra Prasath 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Rajendra Prasath 5th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Therefore, the total amount payable would be Rs 1,44,000. Please 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 Raja Street?

The Sub Registrar Office that covers Raja Street 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 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 reflects a fair assessment of the property's worth.

When you proceed with the registration, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Raja Street?

The current guideline value of Raja Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 118 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 1,256% over the years.

What are the stamp duty rates for property in Raja Street?

The stamp duty for property in Raja Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Raja Street located?

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

What is the classification of land in Raja Street?

Raja Street is classified as Residential Class II Type - I, indicating its suitability for residential development.