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Guideline Value

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Guideline Value for New Bethania Nagar 2nd Street

₹2750/sq.ft.

The guideline value for New Bethania Nagar 2nd Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹406 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹373 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Bethania Nagar 2nd Street

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New Bethania Nagar 2nd Street guideline value

The current guideline value of New Bethania Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of New Bethania Nagar 2nd Street has changed

The guideline value for New Bethania Nagar 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 373 per sq.ft. This value increased to Rs 406 per sq.ft in 2003, marking a change of +9%. Following this, the guideline value rose significantly to Rs 500 per sq.ft in 2007, representing a +23% increase. The value then experienced a substantial jump to Rs 2,500 per sq.ft in 2012, which is a +400% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a -33% change. The value then climbed to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,750 per sq.ft in 2024, a change of +10%.

There are no figures available for revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by +637%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing New Bethania Nagar 2nd Street's 2024 figure below that median.

Stamp duty and registration fee for property in New Bethania Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. Please 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 New Bethania Nagar 2nd Street?

The Sub Registrar Office that covers New Bethania Nagar 2nd 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 Valasaravakkam

The guideline value plays a crucial role during property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for New Bethania Nagar 2nd Street?

The current guideline value for New Bethania Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 373 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of +637% over the years.

What are the other streets in Valasaravakkam with the same guideline value?

Other streets in Valasaravakkam with the same guideline value of Rs 2,750 per sq.ft in 2024 include New Bethania Nagar 1st Street, New Bethania Nagar 3rd Street, New Bethania Nagar 4th Street, New Bethania Nagar 5th Street, New Bethania Nagar Main Road, and New Bethaniya Nagar 6th Street.

What is the stamp duty rate for properties in New Bethania Nagar 2nd Street?

The stamp duty rate for properties in New Bethania Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for New Bethania Nagar 2nd Street located?

The Sub Registrar Office for New Bethania Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.