Guideline Value for SHAIK ABDULLA NAGAR - Chruch Street

SHAIK ABDULLA NAGAR - Chruch Street guideline value

The current guideline value for SHAIK ABDULLA NAGAR - Chruch Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village under the Virugambakkam SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of SHAIK ABDULLA NAGAR - Chruch Street has changed

The guideline value for SHAIK ABDULLA NAGAR - Chruch Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 289 per sq.ft. This increased to Rs 320 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 500 per sq.ft, which is a 56% increase from the previous revision. In 2012, the guideline value rose significantly to Rs 2,500 per sq.ft, reflecting a 400% increase. However, in 2017, it decreased to Rs 1,675 per sq.ft, indicating a 33% drop. The value then increased again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years between these revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 852%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 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 for SHAIK ABDULLA NAGAR - Chruch Street is below this median.

• SHAIK ABDULLA NAGAR - Chelliamman Koil Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Dr.Ambethkar Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Bhavani Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Gangai Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Amaravathy Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Godhavari Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in SHAIK ABDULLA NAGAR - Chruch 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, bringing the total fees together 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SHAIK ABDULLA NAGAR - Chruch Street?

The SHAIK ABDULLA NAGAR - Chruch Street falls under the jurisdiction of 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 Virugambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for SHAIK ABDULLA NAGAR - Chruch Street?

The current guideline value for SHAIK ABDULLA NAGAR - Chruch 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 significantly over the years, increasing from Rs 289 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 852%.

What are the stamp duty and registration fees for property in this area?

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 the registration for SHAIK ABDULLA NAGAR - Chruch Street?

The Virugambakkam Sub Registrar Office handles the registration for SHAIK ABDULLA NAGAR - Chruch Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for SHAIK ABDULLA NAGAR - Chruch Street?

SHAIK ABDULLA NAGAR - Chruch Street is classified as Residential Class IV Type - II according to the local land classification regulations.