Guideline Value for Mathiazhagan Nagar - Kamarajar Street

Mathiazhagan Nagar - Kamarajar Street guideline value

The current guideline value of Mathiazhagan Nagar - Kamarajar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mathiazhagan Nagar - Kamarajar Street has changed

The guideline value for Mathiazhagan Nagar - Kamarajar Street has seen several revisions over the years. In 2007, the value was Rs 850 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most recent change from 2023 to 2024 reflects a rise of 10%. Overall, from 2007 to 2024, the guideline value has increased by 288%.

Guideline values in Saligramam

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

• Mathiazhagan Nagar - Jeeva Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Kanniah Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Govindasamy Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - K.K.Salai: Rs 3,850 per sq.ft (2024)
• Mathiazhagan Nagar - Aranganathan Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - K.V.Sami Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - Kamarajar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty is calculated at 7%, resulting in Rs 2,31,000, while the registration fee at 2% totals Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. 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 Mathiazhagan Nagar - Kamarajar Street?

The Sub Registrar Office that covers Mathiazhagan Nagar - Kamarajar 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

The guideline value is a crucial factor in property transactions in Saligramam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized assessment of property value.

Additionally, the guideline value helps maintain transparency in property transactions, providing a clear reference point for buyers and sellers. It is essential for both parties to be aware of the current guideline value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of Mathiazhagan Nagar - Kamarajar Street?

The current guideline value of Mathiazhagan Nagar - Kamarajar 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 from Rs 850 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 288% over this period.

What is the stamp duty for properties in Mathiazhagan Nagar - Kamarajar Street?

The stamp duty for properties is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Which Sub Registrar Office covers this street?

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

What is the land classification for Mathiazhagan Nagar - Kamarajar Street?

The land classification for Mathiazhagan Nagar - Kamarajar Street is Residential Class III Type - I.