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Guideline Value

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Guideline Value for New Bethaniya Nagar 8th Street

₹2750/sq.ft.

The guideline value for New Bethaniya Nagar 8th 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 8th Street

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New Bethaniya Nagar 8th Street guideline value

The current guideline value of New Bethaniya Nagar 8th 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 Bethaniya Nagar 8th Street has changed

The guideline value for New Bethaniya Nagar 8th Street has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figure for New Bethaniya Nagar 8th Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

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

Stamp duty and registration fee for property in New Bethaniya Nagar 8th 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 cost to 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 information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Bethaniya Nagar 8th Street?

The New Bethaniya Nagar 8th Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value helps to maintain transparency and consistency in property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and avoid any potential legal issues.

Frequently asked questions

What is the current guideline value of New Bethaniya Nagar 8th Street?

The current guideline value of New Bethaniya Nagar 8th 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, which is higher than the current value for New Bethaniya Nagar 8th Street.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for New Bethaniya Nagar 8th Street?

The Virugambakkam Sub Registrar Office handles registrations for New Bethaniya Nagar 8th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.