Guideline Value

Corporate

Guideline Value for New Bethania Nagar 3rd Street

₹2750/sq.ft.

The guideline value for New Bethania Nagar 3rd 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 3rd Street

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New Bethania Nagar 3rd Street guideline value

The current guideline value of New Bethania Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of New Bethania Nagar 3rd Street has changed

The guideline value for New Bethania Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 373 per sq.ft, which increased to Rs 406 per sq.ft in 2003, marking a 9% increase. The value then rose to Rs 500 per sq.ft in 2007, reflecting a significant increase of 23% from the previous revision. By 2012, the guideline value reached Rs 2,500 per sq.ft, which was a substantial increase of 400% from 2007.

In 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. However, it rebounded to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in 2024, representing a 10% increase. 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 value of these streets is Rs 3,850 per sq.ft, indicating that New Bethania Nagar 3rd Street's 2024 figure is below that median.

Stamp duty and registration fee for property in New Bethania Nagar 3rd 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, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Bethania Nagar 3rd Street?

The Sub Registrar Office that covers New Bethania Nagar 3rd 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 is a crucial factor during property registration in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of New Bethania Nagar 3rd Street?

The current guideline value of New Bethania Nagar 3rd 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, reflecting an overall increase of 637% over the years.

What is the land classification for New Bethania Nagar 3rd Street?

New Bethania Nagar 3rd Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for New Bethania Nagar 3rd Street is the Virugambakkam Sub Registrar Office, 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 of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.