Guideline Value for Raja mangalam Street

Raja mangalam Street guideline value

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

How the guideline value of Raja mangalam Street has changed

The guideline value for Raja mangalam Street has undergone several revisions over the years. In 2002, the guideline value was Rs 103 per sq.ft. This increased to Rs 111 per sq.ft in 2003, marking a change of +8%. The value then saw a significant rise to Rs 300 per sq.ft in 2007, which was a +170% increase. Following this, the value jumped to Rs 1,500 per sq.ft in 2012, reflecting a remarkable increase of +400%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, which was a drop of -33%. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,600 per sq.ft, a change of +7%.

Overall, from 2002 to 2024, the guideline value has increased by +1453%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that Raja mangalam Street's 2024 figure is below that median.

• Rajammal Nagar: Rs 1,600 per sq.ft (2024)
• Rajaji Street(V.L.Puram): Rs 2,400 per sq.ft (2024)
• Rajaji Street (Vinayapuram): Rs 2,400 per sq.ft (2024)
• Rajaji Street(Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• Rajarajan Street: Rs 2,400 per sq.ft (2024)
• Rajarao Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raja mangalam 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 cost for these charges would be Rs 1,44,000. 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 for more details.

Which Sub Registrar Office covers Raja mangalam Street?

The Sub Registrar Office that covers Raja mangalam 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 is a crucial factor during the registration process of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a value that reflects the current market conditions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property, which is essential for accurate budgeting during a property transaction.

Frequently asked questions

What is the current guideline value of Raja mangalam Street?

The current guideline value of Raja mangalam 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 103 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +1453% over the years.

What is the land classification for Raja mangalam Street?

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

Where can I find the Sub Registrar Office for Raja mangalam Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would amount to Rs 1,44,000.