Guideline Value for Mothilal Street (Vinayagapuram)

Mothilal Street (Vinayagapuram) guideline value

The current guideline value of Mothilal Street (Vinayagapuram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur Sub Registrar Office. The land classification for this area is Residential Special Type - I.

How the guideline value of Mothilal Street (Vinayagapuram) has changed

The guideline value for Mothilal Street (Vinayagapuram) has undergone several revisions over the years. 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 value increased significantly to Rs 2,200 per sq.ft in the 2023 revision, and further rose to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 9% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Oragadam

In Oragadam, there are a total of 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Mothilal Street (Vinayagapuram) above this median.

• Moraji Street (V.L.Puram): Rs 2,400 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)
• 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 Mothilal Street (Vinayagapuram)

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, totaling 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mothilal Street (Vinayagapuram)?

The Sub Registrar Office that covers Mothilal Street (Vinayagapuram) is the Ambattur Sub Registrar Office. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Oragadam. It is used to determine the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Buyers and sellers should be aware that the guideline value can differ significantly across various streets in the same locality. It is essential to check the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Mothilal Street (Vinayagapuram)?

The current guideline value of Mothilal Street (Vinayagapuram) 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 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 for Mothilal Street (Vinayagapuram)?

The land classification for Mothilal Street (Vinayagapuram) is Residential Special Type - I, indicating its intended use for residential purposes.

What is the registration office for Mothilal Street (Vinayagapuram)?

The registration office for Mothilal Street (Vinayagapuram) 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 stamp duty calculated for property in Mothilal Street (Vinayagapuram)?

Stamp duty for property in Mothilal Street (Vinayagapuram) is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,68,000.