Guideline Value for Mathiazhagan Nagar - Shanmugam Salai

Mathiazhagan Nagar - Shanmugam Salai guideline value

The current guideline value of Mathiazhagan Nagar - Shanmugam Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This property 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 - Shanmugam Salai has changed

The guideline value for Mathiazhagan Nagar - Shanmugam Salai has seen several revisions over the years. Starting from Rs 451 per sq.ft in 2002, it increased to Rs 493 per sq.ft in 2003, which was a 9% rise. The value then saw a significant jump to Rs 850 per sq.ft in 2007, marking a 72% increase. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial 253% increase from the previous revision. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33% from 2012.

In the subsequent revisions, the guideline value rose to Rs 3,000 per sq.ft in 2023, a 49% increase from the 2017 figure. The latest revision in 2024 has set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. The register has no figures for this street for the years not mentioned.

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 of Mathiazhagan Nagar - Shanmugam Salai is below this median.

• Mathiazhagan Nagar - Sarojini Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Singaravelan Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Rajaji Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Sriramulu Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - Shanmugam Salai

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, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mathiazhagan Nagar - Shanmugam Salai?

The Mathiazhagan Nagar - Shanmugam Salai area 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 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 of property transactions in Saligramam. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is important for both the buyer and the seller. This value is considered by the authorities to assess the appropriate fees and taxes applicable to the transaction.

Frequently asked questions

What is the current guideline value for Mathiazhagan Nagar - Shanmugam Salai?

The current guideline value for Mathiazhagan Nagar - Shanmugam Salai 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 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 stamp duty rate in Mathiazhagan Nagar - Shanmugam Salai?

The stamp duty rate for property transactions in Mathiazhagan Nagar - Shanmugam Salai is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for property in this area?

The registration fee for property transactions in Mathiazhagan Nagar - Shanmugam Salai is 2% of the guideline value or the sale price, whichever is higher.

Where can I find more information about the Sub Registrar Office?

More information about the Virugambakkam Sub Registrar Office can be found by visiting the official website or using the find your SRO link.