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Guideline Value

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Guideline Value for New Bethaniya Nagar 7th Street

₹2750/sq.ft.

The guideline value for New Bethaniya Nagar 7th 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 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Bethaniya Nagar 7th Street

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New Bethaniya Nagar 7th Street guideline value

The current guideline value of New Bethaniya Nagar 7th 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 Bethaniya Nagar 7th Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. Following this, the 2023 revision saw a significant increase to Rs 2,500 per sq.ft, and then in the 2024 revision, it rose again to the current value of Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 2,500 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,850 per sq.ft, making the 2024 figure for New Bethaniya Nagar 7th Street below this median.

Stamp duty and registration fee for property in New Bethaniya Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to 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 Bethaniya Nagar 7th Street?

The New Bethaniya Nagar 7th 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives a fair share of revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Bethaniya Nagar 7th Street?

The current guideline value of New Bethaniya Nagar 7th 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 seen several changes, with the 2012 figure at Rs 2,500 per sq.ft, dropping to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,750 per sq.ft in 2024.

What is the land classification for New Bethaniya Nagar 7th Street?

New Bethaniya Nagar 7th Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What is the registration office for this street?

The Virugambakkam Sub Registrar Office covers New Bethaniya Nagar 7th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in New Bethaniya Nagar 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,750 per sq.ft would incur a total stamp duty of Rs 1,92,500.