Guideline Value for Mathiazhagan Nagar - K.V.Sami Street

Mathiazhagan Nagar - K.V.Sami Street guideline value

The current guideline value for Mathiazhagan Nagar - K.V.Sami Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mathiazhagan Nagar - K.V.Sami Street has changed

The guideline value for Mathiazhagan Nagar - K.V.Sami Street has seen several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 750 per sq.ft in 2003. By 2007, the value rose significantly to Rs 850 per sq.ft, and in 2012, it was revised to Rs 3,000 per sq.ft. However, it dropped to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft.

The changes between these revisions highlight a fluctuating trend. From 2002 to 2003, there was an increase of 98%, followed by a 13% rise from 2003 to 2007. The value jumped by 253% from 2007 to 2012, but then saw a decrease of 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has risen by 773%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Mathiazhagan Nagar - K.V.Sami Street's 2024 figure below that median.

• Mathiazhagan Nagar - K.K.Salai: Rs 3,850 per sq.ft (2024)
• Mathiazhagan Nagar - Ma.Po.Si. Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Kanniah Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Nethaji Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Kamarajar Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - N.S.K. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - K.V.Sami Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Mathiazhagan Nagar - K.V.Sami Street?

The Sub Registrar Office that covers Mathiazhagan Nagar - K.V.Sami Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

When buying or selling property in Saligramam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are calculated based on the property's value.

The guideline value is intended to reflect the market conditions and property values in the area. This value is used by the registration authorities to assess the fees payable, which helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Mathiazhagan Nagar - K.V.Sami Street?

The current guideline value for Mathiazhagan Nagar - K.V.Sami Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 378 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024. The highest increase was from Rs 850 per sq.ft in 2007 to Rs 3,000 per sq.ft in 2012.

What is the land classification for Mathiazhagan Nagar - K.V.Sami Street?

The land classification for Mathiazhagan Nagar - K.V.Sami Street is Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Mathiazhagan Nagar - K.V.Sami Street?

The Sub Registrar Office for Mathiazhagan Nagar - K.V.Sami Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.