Guideline Value for Ooratchi Mandra Street

Ooratchi Mandra Street guideline value

The current guideline value of Ooratchi Mandra Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ooratchi Mandra Street has changed

The guideline value for Ooratchi Mandra Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,100 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,210 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Ooratchi Mandra Street is below this median.

• Pallavan Nagar: Rs 3,630 per sq.ft (2024)
• Nethaji Street: Rs 1,210 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Parvathy Nagar: Rs 1,760 per sq.ft (2024)
• Neminathan Nagar: Rs 1,760 per sq.ft (2024)
• Nehru Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Ooratchi Mandra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total charges Rs 1,08,900. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ooratchi Mandra Street?

The Sub Registrar Office that covers Ooratchi Mandra Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ooratchi Mandra Street?

The current guideline value of Ooratchi Mandra Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Ooratchi Mandra Street?

Ooratchi Mandra Street is classified as Residential Class II Type - I.

Where can I find the registration office for Ooratchi Mandra Street?

The registration office for Ooratchi Mandra Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.

How is the stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. In the case of Ooratchi Mandra Street, the guideline value is used to determine the applicable stamp duty and registration fees.