Guideline Value for Mathiazhagan Nagar - Purushothaman Street

Mathiazhagan Nagar - Purushothaman Street guideline value

The current guideline value of Mathiazhagan Nagar - Purushothaman 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 - Purushothaman Street has changed

The guideline value for Mathiazhagan Nagar - Purushothaman Street has seen significant changes over the years. In 2002, the guideline value was Rs 481 per sq.ft. This figure increased to Rs 526 per sq.ft in 2003, marking a 9% increase. The value continued to rise, reaching Rs 850 per sq.ft in 2007, which was a substantial increase of 62%. By 2012, the guideline value had jumped to Rs 3,000 per sq.ft, reflecting a remarkable growth of 253% from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value increased again, with the 2023 revision setting it at Rs 3,000 per sq.ft. The most recent revision in 2024 has raised it to Rs 3,300 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 586%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making the current guideline value for Mathiazhagan Nagar - Purushothaman Street below this median.

• Mathiazhagan Nagar - Pammal Nalla Thambi Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Rajaji Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - N.S.K. Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Sarojini Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Nethaji Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Shanmugam Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - Purushothaman 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, making the total cost for these fees Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mathiazhagan Nagar - Purushothaman Street?

The Mathiazhagan Nagar - Purushothaman Street 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 further assistance.

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

The guideline value is a crucial factor when registering property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. Therefore, it is essential for both parties to understand the guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

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

The current guideline value of Mathiazhagan Nagar - Purushothaman 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 significantly from Rs 481 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 586%.

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

This street is classified as Residential Class III Type - I.

Which office handles registrations for properties in this area?

The Virugambakkam Sub Registrar Office handles registrations for properties in Mathiazhagan Nagar - Purushothaman Street.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 2,97,000.