Guideline Value for M.P.C. Street(Venkateswar Nagar)

M.P.C. Street(Venkateswar Nagar) guideline value

The current guideline value of M.P.C. Street (Venkateswar Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

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

The guideline value for M.P.C. Street (Venkateswar Nagar) has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,600 per sq.ft. The changes between these revisions are notable: from 2007 to 2012, there was an increase of 200%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024.

The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam village, 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, with a median value of Rs 2,200 per sq.ft. The guideline value of M.P.C. Street (Venkateswar Nagar) at Rs 1,600 per sq.ft is below this median.

• M.P.C. Street (Vinayagapuram): Rs 2,400 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(Venkateswar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers M.P.C. Street (Venkateswar 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 critical factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When engaging in a property transaction, both the buyer and seller must consider the guideline value as it directly influences the costs associated with registration. This ensures that all parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

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

The current guideline value of M.P.C. Street (Venkateswar Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 220% over the years.

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

M.P.C. Street (Venkateswar Nagar) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for M.P.C. Street(Venkateswar Nagar)?

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft incurs a total guideline value of Rs 16,00,000, leading to a stamp duty of Rs 1,12,000.