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Guideline Value

Corporate

Guideline Value for SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street

₹2750/sq.ft.

The guideline value for Shathik Batcha Nagar & Shaik Abdulla Nagar 6th Street in Virugambakkam 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 - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class IV Type - II
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 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 Shathik Batcha Nagar & Shaik Abdulla Nagar 6th Street

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SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street guideline value

The current guideline value for SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village under the Virugambakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street has changed

The guideline value for SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street has seen significant changes over the years. In 2007, the value was Rs 500 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, followed by a further increase to the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 reflects a 450% increase, highlighting the fluctuations in the guideline value over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with 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 SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street is below this median.

Stamp duty and registration fee for property in SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th 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 cost to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street?

The Sub Registrar Office that covers SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th 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 Virugambakkam

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a reference point for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value for SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th Street?

The current guideline value for SHATHIK BATCHA NAGAR & SHAIK ABDULLA NAGAR 6th 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 from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting a 450% increase overall.

What is the registration fee for property transactions?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

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

The Sub Registrar Office covering this area is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a guideline value of Rs 27,50,000, the stamp duty would be Rs 1,92,500.