Guideline Value for Min Nagar

Min Nagar guideline value

The current guideline value of Min Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Min Nagar has changed

The guideline value for Min Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 163 per sq.ft. This increased to Rs 176 per sq.ft in 2003, marking an 8% rise. The value continued to rise significantly, reaching Rs 500 per sq.ft in 2007, which was a substantial 184% increase. By 2012, the value was revised to Rs 1,800 per sq.ft, reflecting a 260% increase from the previous revision. However, this value saw a decrease of 33% to Rs 1,206 per sq.ft in 2017.

In 2023, the guideline value was increased to Rs 1,800 per sq.ft, and then it rose by 6% to the current value of Rs 1,900 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1066%.

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. The guideline value of Min Nagar is below this median.

• Min Nagar extention: Rs 1,900 per sq.ft (2024)
• M.G.R. Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• M.G.R. Street (Pudur): Rs 1,900 per sq.ft (2024)
• M.G.R. Street (Gandhi Nagar Part): Rs 1,800 per sq.ft (2024)
• M.G.R. Street (A.K.A. Nagar): Rs 1,600 per sq.ft (2024)
• M.G.R. Avenue (Banu Nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Min Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Min Nagar?

The Sub Registrar Office that covers Min Nagar 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 SRO, you can visit find your SRO.

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

The guideline value is an essential factor when buying or selling property in Oragadam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value can significantly affect the overall cost of property transactions.

When a property is sold, the guideline value serves as a reference point for the registration office to assess the appropriate fees. It is crucial for both buyers and sellers to understand how this value impacts their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Min Nagar?

The current guideline value of Min Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 163 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, marking an overall increase of 1066% over this period.

What are the stamp duty and registration fees for property in Min Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations in Min Nagar?

The Ambattur Sub Registrar Office handles property registrations in Min Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a reference point for the registration office to assess the appropriate fees that buyers and sellers must pay.