Guideline Value for Mahesh Street

Mahesh Street guideline value

The current guideline value of Mahesh Street, located in Oragadam village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Mahesh Street has changed

The guideline value for Mahesh Street has seen several revisions over the years. In 2002, the value was Rs 110 per sq.ft, which increased to Rs 119 per sq.ft in 2003. Following that, the value rose significantly to Rs 500 per sq.ft in 2007, marking a 320% increase. By 2012, the guideline value had reached Rs 1,500 per sq.ft, but this represented a decrease of 33% from the previous revision. The value remained at Rs 1,500 per sq.ft until 2017, when it increased to Rs 1,005 per sq.ft. The most recent revisions show a guideline value of Rs 1,500 per sq.ft in 2023, which then increased to Rs 1,600 per sq.ft in 2024, reflecting a 7% rise.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 1355%. There are no figures available for revisions in years other than those listed above.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means Mahesh Street's 2024 figure is below that median.

• Maharaja Avenue (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Mahalalakshmi Street(banu nagar west): Rs 2,200 per sq.ft (2024)
• Mahalakshmi Street: Rs 2,200 per sq.ft (2024)
• Mani Cross Street: Rs 2,400 per sq.ft (2024)
• Madurai veeran Street: Rs 1,800 per sq.ft (2024)
• Manimekalai Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mahesh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahesh Street?

The Sub Registrar Office that covers Mahesh Street 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 plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and compliant with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mahesh Street?

The current guideline value of Mahesh Street 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 110 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting a total increase of 1355% over the years.

What is the land classification of Mahesh Street?

Mahesh Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for Mahesh Street?

For a 1,000 sq.ft plot, the total guideline value would be Rs 16,00,000, with stamp duty at Rs 1,12,000 and registration fee at Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Mahesh Street located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.