Guideline Value for Raman Street

Raman Street guideline value

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

How the guideline value of Raman Street has changed

The guideline value of Raman Street has seen several revisions over the years. In 2002, the guideline value was Rs 169 per sq.ft, which increased to Rs 182 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and the value further increased to Rs 1,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft. The guideline value then rose again to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,600 per sq.ft.

The changes between revisions show a +8% increase from 2002 to 2003, a +120% increase from 2003 to 2007, a +275% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +7% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +847%.

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. The guideline value of Raman Street is below this median.

• Ramanujam Street: 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)
• Rambharathi Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Ramakrishnan Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raman 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 be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Raman Street?

The Sub Registrar Office that covers Raman 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 of property transactions in Oragadam. When a property is sold, the guideline value is used as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately with the authorities.

During the registration process, buyers and sellers must be aware that the stamp duty is calculated on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Raman Street?

The current guideline value of Raman 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 169 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +847% over the years.

What is the classification of Raman Street?

Raman Street is classified as Residential Class II Type - I under the Ambattur SRO.

Where can I find the Sub Registrar Office for Raman Street?

The Sub Registrar Office for Raman Street is 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 in Raman Street?

Stamp duty for properties in Raman Street is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.