Guideline Value for Sivaraman Street (Ram Nagar)

Sivaraman Street (Ram Nagar) guideline value

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

Over the years, the guideline value of Sivaraman Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,474 per sq.ft. The 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,400 per sq.ft, marking a 9% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value from Rs 1,474 per sq.ft to Rs 2,200 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 9%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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, and Sivaraman Street's 2024 figure of Rs 2,400 per sq.ft is above this median.

• Sivaraj Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Sivankoil Street: Rs 1,600 per sq.ft (2024)
• Sivashanmugam Pillai Street: Rs 1,600 per sq.ft (2024)
• Sivashanmugam Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Sivaji Ganesan Street (S.V. Nagar): Rs 1,600 per sq.ft (2024)
• Sir.C.V.Raman Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraman 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, charged at 7%, would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. Together, the total costs for duty and registration would be 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 more information.

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

The Sub Registrar Office that covers Sivaraman Street (Ram Nagar) is the Ambattur Sub Registrar Office. The address is 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 during the registration process when buying or selling property in Oragadam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Sivaraman 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 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

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

Sivaraman Street (Ram Nagar) is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Sivaraman Street (Ram Nagar)?

The Sub Registrar Office for Sivaraman 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.

What is the stamp duty for property in Sivaraman Street (Ram Nagar)?

The stamp duty for property in Sivaraman Street (Ram Nagar) is charged at 7% of the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,400 per sq.ft would incur a stamp duty of Rs 1,68,000.