Guideline Value for Muthukumaran Street (Venkateswara Nagar)

Muthukumaran Street (Venkateswara Nagar) guideline value

The current guideline value of Muthukumaran 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 is classified as Residential Class II Type - I.

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

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. Subsequently, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,600 per sq.ft in the 2024 revision, reflecting an increase of 7%. The overall change from 2012 to 2024 shows a modest increase of 7%.

There are no figures available for the revisions in 2002, 2003, and 2007 for Muthukumaran Street (Venkateswara Nagar). The guideline value has seen a substantial increase of 49% from 2017 to 2023, highlighting the fluctuations in property values over the years.

Guideline values in Oragadam

Oragadam village has a total of 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 Muthukumaran Street's 2024 figure of Rs 1,600 per sq.ft is below this median.

• Muthu Kumaran Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,400 per sq.ft (2024)
• MuthuMariamman Koil Street (A.K.A. Nagar): Rs 1,400 per sq.ft (2024)
• Muthuraman Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Muthuvalli Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Nagammai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthukumaran 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 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 higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Muthukumaran 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. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role 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 and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property dealings and ensures that all parties are aware of the financial commitments involved.

Frequently asked questions

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

The current guideline value of Muthukumaran 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Muthukumaran Street (Venkateswara Nagar)?

Muthukumaran Street (Venkateswara Nagar) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Muthukumaran Street (Venkateswara Nagar)?

The Sub Registrar Office for Muthukumaran 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.

How is the stamp duty calculated for properties in Muthukumaran Street (Venkateswara Nagar)?

The stamp duty 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 would incur a stamp duty of Rs 1,12,000.