Guideline Value for Masilamaneeswarar Street (Venkateswara Nagar)

Masilamaneeswarar Street (Venkateswara Nagar) guideline value

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

How the guideline value of Masilamaneeswarar Street (Venkateswara Nagar) has changed

Over the years, the guideline value of Masilamaneeswarar Street has seen several revisions. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a 33% drop. The value rebounded to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as per the 2024 revision, which is a 7% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the guideline value of Masilamaneeswarar Street (Venkateswara Nagar) is below this median.

• Maruthi Street: Rs 1,400 per sq.ft (2024)
• Masilamani Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Maruthi Nagar: Rs 1,300 per sq.ft (2024)
• Mathan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Mathuram Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Mariamman Koil Street (11th Ward): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamaneeswarar Street (Venkateswara 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, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masilamaneeswarar Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Masilamaneeswarar Street (Venkateswara 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 plays a crucial role during property transactions in Oragadam. It is used to determine the stamp duty and registration fees that are applicable when registering a property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for anyone looking to buy or sell property in this area, as it directly affects the overall cost of the transaction. It is advisable to consult the latest figures to ensure compliance with the current regulations.

Frequently asked questions

What is the current guideline value of Masilamaneeswarar Street (Venkateswara Nagar)?

The current guideline value of Masilamaneeswarar Street (Venkateswara 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, marking an overall increase of 220% over the years.

What is the land classification for Masilamaneeswarar Street?

Masilamaneeswarar Street (Venkateswara Nagar) falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for this street?

The Ambattur Sub Registrar Office covers Masilamaneeswarar Street, 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 Oragadam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.