Guideline Value for Mathiazhagan Nagar - Rajaji Street

Mathiazhagan Nagar - Rajaji Street guideline value

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

The guideline value for Mathiazhagan Nagar - Rajaji Street has undergone several revisions over the years. The earliest recorded value was Rs 411 per sq.ft in 2002, which increased to Rs 449 per sq.ft in 2003. Following this, the value saw significant increases, reaching Rs 850 per sq.ft in 2007, and then jumping to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before rising to Rs 3,000 per sq.ft again in 2023.

The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 703% 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, with a median value of Rs 4,400 per sq.ft. The guideline value for Mathiazhagan Nagar - Rajaji Street is below this median.

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

Stamp duty and registration fee for property in Mathiazhagan Nagar - Rajaji 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, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mathiazhagan Nagar - Rajaji Street?

The Sub Registrar Office that covers Mathiazhagan Nagar - Rajaji 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 information.

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

The guideline value is a crucial factor when buying or selling property in Saligramam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the property transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that all transactions are conducted in accordance with government regulations.

When registering a property, the guideline value helps to establish a fair price for the property being transferred. It is important for both parties to understand that the fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Mathiazhagan Nagar - Rajaji 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 411 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 703% over the years.

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

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

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Mathiazhagan Nagar - Rajaji Street?

The Virugambakkam Sub Registrar Office handles registrations for Mathiazhagan Nagar - Rajaji Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.