Guideline Value for Mathiazhagan Nagar - Pammal Nalla Thambi Street

Mathiazhagan Nagar - Pammal Nalla Thambi Street guideline value

The current guideline value for Mathiazhagan Nagar - Pammal Nalla Thambi 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 - Pammal Nalla Thambi Street has changed

Over the years, the guideline value for Mathiazhagan Nagar - Pammal Nalla Thambi Street has experienced several revisions. The earliest recorded value was Rs 451 per sq.ft in 2002, which increased to Rs 493 per sq.ft in 2003. Following this, the value rose significantly to Rs 850 per sq.ft in 2007, marking a change of +72%. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, an increase of +253%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of -33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a change of +10%.

From 2002 to 2024, the overall increase in guideline value for this street is +632%. Notably, there are no figures available in the register for the years between these revisions for this street.

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, placing Mathiazhagan Nagar - Pammal Nalla Thambi Street's 2024 figure below that median.

• Mathiazhagan Nagar - N.S.K. Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Nethaji Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Rajaji Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Ma.Po.Si. Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Sarojini Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - Pammal Nalla Thambi 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 together to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mathiazhagan Nagar - Pammal Nalla Thambi Street?

The Sub Registrar Office that covers Mathiazhagan Nagar - Pammal Nalla Thambi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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 calculating stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property.

Frequently asked questions

What is the current guideline value for Mathiazhagan Nagar - Pammal Nalla Thambi Street?

The current guideline value for Mathiazhagan Nagar - Pammal Nalla Thambi 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 451 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +632% over the years.

What is the land classification for Mathiazhagan Nagar - Pammal Nalla Thambi Street?

The land classification for Mathiazhagan Nagar - Pammal Nalla Thambi Street is Residential Class III Type - I.

Which office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for Mathiazhagan Nagar - Pammal Nalla Thambi Street, 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 higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.