Guideline Value for Ramar Koil Street

Ramar Koil Street guideline value

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

How the guideline value of Ramar Koil Street has changed

Over the years, the guideline value of Ramar Koil Street has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The subsequent revisions saw an increase to Rs 1,500 per sq.ft in 2023, and now it stands at Rs 1,600 per sq.ft in 2024, reflecting a growth of 7% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Ramar Koil Street. When observing the overall trend from 2007 to 2024, the guideline value has increased by 300%, showcasing a substantial change in the valuation of this street over the years.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value 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, indicating that Ramar Koil Street's 2024 figure of Rs 1,600 per sq.ft is below this median.

• Ramanujam Street: Rs 2,400 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)
• Raman Street: Rs 1,600 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 Ramar Koil 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, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramar Koil Street?

The Sub Registrar Office that covers Ramar Koil 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 details.

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 stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramar Koil Street?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,600 per sq.ft in 2024, representing a 300% increase overall.

What is the land classification for Ramar Koil Street?

Ramar Koil Street falls under the Residential Class II Type - I land classification.

Where can I find the registration office for Ramar Koil Street?

The registration office for Ramar Koil 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 stamp duty calculated for properties in Ramar Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.