Guideline Value for Ramasamy Street.DR (V.L.Puram)

Ramasamy Street.DR (V.L.Puram) guideline value

The current guideline value for Ramasamy Street.DR (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Ramasamy Street.DR (V.L.Puram) has changed

Over the years, the guideline value of Ramasamy Street.DR has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following that, the guideline value increased significantly to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,400 per sq.ft as per the 2024 revision. The changes between these revisions include a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a guideline value for 2024 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 for Ramasamy Street.DR (V.L.Puram) is above this median.

• Ramasamy (Pillai) Street: Rs 1,600 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 Street.DR (V.L.Puram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total fees Rs 2,16,000. 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 further calculations.

Which Sub Registrar Office covers Ramasamy Street.DR (V.L.Puram)?

The Sub Registrar Office that covers Ramasamy Street.DR (V.L.Puram) 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 critical factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered along with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ramasamy Street.DR (V.L.Puram)?

The current guideline value of Ramasamy Street.DR (V.L.Puram) 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 to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,400 per sq.ft in 2024.

What is the land classification for Ramasamy Street.DR (V.L.Puram)?

Ramasamy Street.DR (V.L.Puram) is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Ramasamy Street.DR (V.L.Puram)?

The Sub Registrar Office for Ramasamy Street.DR (V.L.Puram) 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 Oragadam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value or sale price.