Guideline Value for Moraji Street (V.L.Puram)

Moraji Street (V.L.Puram) guideline value

The current guideline value of Moraji Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Moraji Street (V.L.Puram) has changed

Over the years, the guideline value for Moraji Street (V.L.Puram) has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,400 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

The changes between these revisions are significant. From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 9%.

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 Moraji Street (V.L.Puram) at Rs 2,400 per sq.ft is above this median.

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

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, bringing the total fees to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moraji Street (V.L.Puram)?

The Sub Registrar Office that covers Moraji Street (V.L.Puram) 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 is a crucial factor when registering property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must be aware of the guideline value to avoid any discrepancies during the registration process. It is essential to ensure that the sale price is at least equal to the guideline value to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Moraji Street (V.L.Puram)?

The current guideline value of Moraji Street (V.L.Puram) 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 back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Moraji Street (V.L.Puram)?

Moraji Street (V.L.Puram) is classified as Residential Special Type - I.

What are the stamp duty and registration fees for a property in Moraji Street (V.L.Puram)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which office handles registrations for Moraji Street (V.L.Puram)?

The Ambattur Sub Registrar Office is responsible for handling registrations for Moraji Street (V.L.Puram), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.