Guideline Value for Sundharanar Street (Ram Nagar)

Sundharanar Street (Ram Nagar) guideline value

The current guideline value of Sundharanar 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 the land classification is Residential Special Type - I.

How the guideline value of Sundharanar Street (Ram Nagar) has changed

The guideline value for Sundharanar Street (Ram Nagar) has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 267%. However, the value dropped to Rs 1,474 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision brought the value up to Rs 2,200 per sq.ft, and the most recent 2024 revision has set it at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Sundharanar Street's guideline value of Rs 2,400 per sq.ft is above the median.

• Sundaram Street: Rs 2,400 per sq.ft (2024)
• S.V.Koil Street: Rs 1,600 per sq.ft (2024)
• Tagore Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Tagore Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Subramani Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Subramaniar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sundharanar 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, bringing the total to Rs 2,16,000. It is important to note that 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 Sundharanar Street (Ram Nagar)?

The Sub Registrar Office that covers Sundharanar 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 further assistance.

How the guideline value is used when you buy or sell in Oragadam

The guideline value is a crucial factor in property transactions in Oragadam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value ensures that the transaction is recorded at a value recognized by the government, which helps in maintaining transparency in property dealings.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps in standardizing property values and ensuring that all transactions are taxed appropriately.

Frequently asked questions

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

The current guideline value of Sundharanar 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. Notably, it saw a significant increase of 267% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and then an increase of 49% from 2017 to 2023.

What is the land classification of Sundharanar Street (Ram Nagar)?

Sundharanar Street (Ram Nagar) falls under the land classification of Residential Special Type - I.

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

The Sub Registrar Office for Sundharanar 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.

How is the stamp duty calculated for properties in Sundharanar Street (Ram Nagar)?

Stamp duty for properties in Sundharanar Street (Ram Nagar) is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 2,400 per sq.ft, the total stamp duty would be Rs 1,68,000 at a rate of 7%.