Guideline Value for Mathiazhagan Nagar - Kanniah Street

Mathiazhagan Nagar - Kanniah Street guideline value

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

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

The guideline value for Mathiazhagan Nagar - Kanniah Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 358 per sq.ft. This increased to Rs 750 per sq.ft in 2003, marking a significant rise of 109%. The value continued to rise, reaching Rs 1,365 per sq.ft in 2007, which was an increase of 82%. The 2012 revision saw a slight decrease to Rs 3,000 per sq.ft, reflecting a drop of 33%. However, the value surged again to Rs 2,010 per sq.ft in 2017, an increase of 49%. The 2023 revision set the value at Rs 3,000 per sq.ft, before the latest increase to Rs 3,300 per sq.ft in 2024, which represents a 10% rise.

It is important to note that there are no figures available for this street in the revisions for the years not mentioned above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Mathiazhagan Nagar - Kanniah Street's 2024 figure below this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathiazhagan Nagar - Kanniah Street?

The Mathiazhagan Nagar - Kanniah Street falls under the jurisdiction of 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 plays a crucial role in the registration process for property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all property transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Mathiazhagan Nagar - Kanniah Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has undergone several revisions, increasing from Rs 358 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 822%.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Mathiazhagan Nagar - Kanniah Street is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Mathiazhagan Nagar - Kanniah Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, while Mathiazhagan Nagar - Kanniah Street's current value is below this median.