Guideline Value for Mathiazhagan Nagar - K.K.Salai

Mathiazhagan Nagar - K.K.Salai guideline value

The current guideline value for Mathiazhagan Nagar - K.K.Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Mathiazhagan Nagar - K.K.Salai has changed

The guideline value for Mathiazhagan Nagar - K.K.Salai has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 605 per sq.ft. This increased to Rs 661 per sq.ft in 2003, marking a 9% rise. The value continued to increase, reaching Rs 850 per sq.ft in 2007, which was a 29% increase from the previous year. The 2012 revision saw the value rise significantly to Rs 3,500 per sq.ft, a 312% increase from 2007. However, in 2017, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%.

In the following years, the guideline value saw a substantial increase again. The 2023 revision set the value at Rs 3,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has further raised the guideline value to Rs 3,850 per sq.ft, a 10% increase from the previous year.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Mathiazhagan Nagar - K.K.Salai is below this median.

• Mathiazhagan Nagar - Kanniah Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - K.V.Sami Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Kamarajar Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Ma.Po.Si. Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Jeeva Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Nethaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - K.K.Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathiazhagan Nagar - K.K.Salai?

The Mathiazhagan Nagar - K.K.Salai area is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations. Therefore, understanding the guideline value is essential for all parties involved in real estate transactions in this area.

Frequently asked questions

What is the current guideline value of Mathiazhagan Nagar - K.K.Salai?

The current guideline value for Mathiazhagan Nagar - K.K.Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 605 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Mathiazhagan Nagar - K.K.Salai?

The land classification for Mathiazhagan Nagar - K.K.Salai is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers Mathiazhagan Nagar - K.K.Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.