Guideline Value for Sathya Street(Ram Nagar)

Sathya Street(Ram Nagar) guideline value

The current guideline value of Sathya Street(Ram Nagar) 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 Sathya Street(Ram Nagar) has changed

The guideline value for Sathya Street(Ram Nagar) has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This figure increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 267%. However, it then dropped to Rs 1,474 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a substantial increase again to Rs 2,200 per sq.ft in 2023, which was a 49% rise from the previous revision. The latest revision in 2024 set the guideline value at Rs 2,400 per sq.ft, representing a 9% increase from 2023.

The register has no figures for Sathya Street(Ram Nagar) in the years 2002 and 2003.

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 guideline value in the village is Rs 2,200 per sq.ft, and Sathya Street(Ram Nagar) is above this median.

• Sathiyamoorthi Street(V.L. Puram): Rs 2,400 per sq.ft (2024)
• Sathayavani Muthu Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Seenivasa Nagar: Rs 1,100 per sq.ft (2024)
• Seethakathi Street: Rs 1,600 per sq.ft (2024)
• Seetharaman Street: Rs 1,600 per sq.ft (2024)
• Saraswathi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Street(Ram Nagar)

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, leading to a total of Rs 2,16,000 for these charges. 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 more details.

Which Sub Registrar Office covers Sathya Street(Ram Nagar)?

The Sub Registrar Office that covers Sathya Street(Ram Nagar) 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 property transactions in Oragadam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value must be considered for calculating stamp duty and registration fees.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sathya Street(Ram Nagar)?

The current guideline value of Sathya Street(Ram Nagar) 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 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Sathya Street(Ram Nagar)?

Sathya Street(Ram Nagar) is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Sathya Street(Ram Nagar)?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Where is the Sub Registrar Office for Sathya Street(Ram Nagar)?

The Sub Registrar Office for Sathya Street(Ram Nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.