Guideline Value for Ramakrishnan Street (Vinayagapuram)

Ramakrishnan Street (Vinayagapuram) guideline value

The current guideline value of Ramakrishnan Street (Vinayagapuram) 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 Ramakrishnan Street (Vinayagapuram) has changed

Since the 2012 revision, the guideline value for Ramakrishnan Street (Vinayagapuram) has seen various changes. The 2012 revision set the value at Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and then rose again to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From the 2017 revision to 2023, the increase was 49%. Overall, comparing the 2012 revision to the current 2024 figure, there is a 9% increase. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street.

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. The median value for these streets is Rs 2,200 per sq.ft, placing Ramakrishnan Street (Vinayagapuram) above this median.

• Raman Street: Rs 1,600 per sq.ft (2024)
• Ramanujam Street: Rs 2,400 per sq.ft (2024)
• Rajiv Gandhi Street (Pudur): Rs 2,400 per sq.ft (2024)
• Ramar Koil Street: Rs 1,600 per sq.ft (2024)
• Ramasamy (Pillai) Street (S.No.61,62,71,72): Rs 1,600 per sq.ft (2024)
• Ramasamy Street.DR (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Street (Vinayagapuram)

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the 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, totaling Rs 2,16,000. It is important to note that 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 Ramakrishnan Street (Vinayagapuram)?

The Sub Registrar Office that covers Ramakrishnan Street (Vinayagapuram) 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 during the registration process of property transactions in Oragadam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value is considered the minimum value for transaction purposes. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street (Vinayagapuram)?

The current guideline value of Ramakrishnan Street (Vinayagapuram) 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 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Ramakrishnan Street?

Ramakrishnan Street (Vinayagapuram) is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties on Ramakrishnan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.