Guideline Value for M.P.C. Street (Vinayagapuram)

M.P.C. Street (Vinayagapuram) guideline value

The current guideline value of M.P.C. Street (Vinayagapuram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of M.P.C. Street (Vinayagapuram) has changed

The guideline value for M.P.C. Street (Vinayagapuram) has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,400 per sq.ft from the 2024 revision, marking a 9% increase from the previous year.

Between the revisions, the changes are notable. The guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. 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.P.C. Street (Vinayagapuram) has a guideline value above this median.

• M.P.C. Street (Venkateswar Nagar): Rs 1,600 per sq.ft (2024)
• Mothilal Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Moraji Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Moogambigai Street: Rs 1,600 per sq.ft (2024)
• Munusamy Pillai Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Munusamy Pillai Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in M.P.C. Street (Vinayagapuram)

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, totaling Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.P.C. Street (Vinayagapuram)?

The Sub Registrar Office that covers M.P.C. Street (Vinayagapuram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the correct fees are applied, helping to maintain transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure they are adequately prepared for the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of M.P.C. Street (Vinayagapuram)?

The current guideline value of M.P.C. Street (Vinayagapuram) 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 is currently Rs 2,400 per sq.ft in 2024.

What is the land classification for M.P.C. Street (Vinayagapuram)?

The land classification for M.P.C. Street (Vinayagapuram) is Residential Special Type - I.

Where is the Sub Registrar Office for M.P.C. Street (Vinayagapuram)?

The Sub Registrar Office for M.P.C. Street (Vinayagapuram) 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 M.P.C. Street (Vinayagapuram)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,68,000 based on the guideline value.