Guideline Value for V.O.C.Street Ram Nagar

V.O.C.Street Ram Nagar guideline value

The current guideline value of V.O.C.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 V.O.C.Street Ram Nagar has changed

The guideline value for V.O.C.Street Ram Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to 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 years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 9% from 2012 to 2024.

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, and the median value is Rs 2,200 per sq.ft. The guideline value for V.O.C.Street Ram Nagar is above this median.

• V.O.C Street (S.No.69): Rs 1,100 per sq.ft (2024)
• V.O.C.Street V.L.Puram: Rs 2,400 per sq.ft (2024)
• V.O.C.Street (A.K.A.Nagar): Rs 1,400 per sq.ft (2024)
• V.V.Giri Street: Rs 2,400 per sq.ft (2024)
• V.K.Menon Street: Rs 2,400 per sq.ft (2024)
• Viyasar Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C.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 amounts to Rs 24,00,000. The stamp duty, charged at 7%, would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total cost for these fees Rs 2,16,000. 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 V.O.C.Street Ram Nagar?

The Sub Registrar Office that covers V.O.C.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 crucial factor when buying or selling property in Oragadam, as it determines the amount of stamp duty and registration fees that need to be paid. The guideline value is set by the government and is used to assess the value of the property for registration purposes.

When a property is sold, the buyer must ensure that the sale price is either equal to or greater than the guideline value, as the stamp duty is charged on the higher of the two figures. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C.Street Ram Nagar?

The current guideline value of V.O.C.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 V.O.C.Street Ram Nagar?

The land classification for V.O.C.Street Ram Nagar is Residential Special Type - I.

What is the registration office for V.O.C.Street Ram Nagar?

The registration office for V.O.C.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 stamp duty calculated for properties in V.O.C.Street Ram Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.