Guideline Value for SHAIK ABDULLA NAGAR - School Street

SHAIK ABDULLA NAGAR - School Street guideline value

The current guideline value for SHAIK ABDULLA NAGAR - School 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 - School Street has changed

The guideline value for SHAIK ABDULLA NAGAR - School Street has seen several revisions over the years. In 2002, the value was Rs 289 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped significantly to Rs 500 per sq.ft, a 56% increase. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, this figure dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, followed by the current guideline value of Rs 2,750 per sq.ft in 2024, which represents a 10% increase.

There are no figures available for revisions other than those listed. 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 - School Street is below this median.

• SHAIK ABDULLA NAGAR - Pilliyar Koil Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Sindhu Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Madharsha Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Thamiraparani Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Kaveri Street: Rs 2,750 per sq.ft (2024)
• SHAIK ABDULLA NAGAR - Vaigai Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in SHAIK ABDULLA NAGAR - School 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 fees 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.

You can also use our stamp duty and registration fee calculator for accurate calculations.

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

The SHAIK ABDULLA NAGAR - School Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit this link.

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

The guideline value is a crucial factor during the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the correct amount is paid during registration.

Frequently asked questions

What is the current guideline value of SHAIK ABDULLA NAGAR - School Street?

The current guideline value of SHAIK ABDULLA NAGAR - School 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 289 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 852% over the years.

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

For a property valued at 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, totaling Rs 2,47,500.

Which office handles the registration for SHAIK ABDULLA NAGAR - School Street?

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

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

SHAIK ABDULLA NAGAR - School Street is classified under Residential Class IV Type - II land classification.