Guideline Value for M.C.Raja Street (V.L.Puram)

M.C.Raja Street (V.L.Puram) guideline value

The current guideline value for M.C.Raja Street (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 is classified as Residential Special Type - I.

How the guideline value of M.C.Raja Street (V.L.Puram) has changed

The guideline value for M.C.Raja Street (V.L.Puram) has undergone several revisions over the years. The earliest recorded revision available is from 2012, where the guideline value was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,400 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The value then rose by 9% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 9%. 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 that carry 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. M.C.Raja Street (V.L.Puram) has a guideline value above this median.

• Mathuram Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Meenambal Sivaraj Street: Rs 1,900 per sq.ft (2024)
• Mathan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Masilamani Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Masilamaneeswarar Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Maruthi Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in M.C.Raja Street (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, bringing the total fees to Rs 2,16,000. Please 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 M.C.Raja Street (V.L.Puram)?

The Sub Registrar Office that covers M.C.Raja Street (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 when buying or selling property in Oragadam, as it determines the minimum value at which property transactions can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value for M.C.Raja Street (V.L.Puram)?

The current guideline value for M.C.Raja Street (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 back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024. This represents a 9% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification of M.C.Raja Street (V.L.Puram)?

M.C.Raja Street (V.L.Puram) is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for M.C.Raja Street (V.L.Puram)?

The Sub Registrar Office for M.C.Raja Street (V.L.Puram) is 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 guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.