Guideline Value for Ramasamy (Pillai) Street (S.No.61,62,71,72)

Ramasamy (Pillai) Street (S.No.61,62,71,72) guideline value

The current guideline value for Ramasamy (Pillai) Street (S.No.61,62,71,72) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramasamy (Pillai) Street (S.No.61,62,71,72) has changed

The guideline value for Ramasamy (Pillai) Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and then increased to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street. The 2017 to 2023 revision represented a 49% increase, while the 2012 to 2017 revision showed a decrease of 33%.

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, placing Ramasamy (Pillai) Street's 2024 figure below this median.

• Ramasamy Street.DR (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Rambharathi Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Ramar Koil Street: Rs 1,600 per sq.ft (2024)
• Ramanujam Street: Rs 2,400 per sq.ft (2024)
• Raman Street: Rs 1,600 per sq.ft (2024)
• Ramakrishnan Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy (Pillai) Street (S.No.61,62,71,72)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramasamy (Pillai) Street (S.No.61,62,71,72)?

The Sub Registrar Office that covers Ramasamy (Pillai) 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 in the property registration process in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property transaction occurs, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Ramasamy (Pillai) Street?

The current guideline value for Ramasamy (Pillai) Street (S.No.61,62,71,72) 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Ramasamy (Pillai) Street?

Ramasamy (Pillai) Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

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

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