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Guideline Value

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Guideline Value for SHATHIK BATCHA NAGAR - Masuthi 1st Street

₹2750/sq.ft.

The guideline value for Shathik Batcha Nagar - Masuthi 1st 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 ₹349 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹315 /sq.ft.
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 - Masuthi 1st Street

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SHATHIK BATCHA NAGAR - Masuthi 1st Street guideline value

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of SHATHIK BATCHA NAGAR - Masuthi 1st Street has changed

The guideline value for SHATHIK BATCHA NAGAR - Masuthi 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 315 per sq.ft. This increased to Rs 349 per sq.ft in 2003, marking a change of +11%. In 2007, the value saw a significant rise to Rs 500 per sq.ft, which was a +43% increase. The subsequent revision in 2012 brought the value to Rs 2,500 per sq.ft, reflecting a substantial increase of +400% from the previous year. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a decline of -33%. The 2017 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was raised to Rs 2,500 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 2,750 per sq.ft, representing a +10% change from the previous year.

Guideline values in Virugambakkam

Within 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 SHATHIK BATCHA NAGAR - Masuthi 1st Street is below this median.

Stamp duty and registration fee for property in SHATHIK BATCHA NAGAR - Masuthi 1st 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 be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total 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 SHATHIK BATCHA NAGAR - Masuthi 1st Street?

The Sub Registrar Office that covers SHATHIK BATCHA NAGAR - Masuthi 1st 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures that the transaction is registered at a fair value.

Frequently asked questions

What is the current guideline value of SHATHIK BATCHA NAGAR - Masuthi 1st Street?

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 1st 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 315 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +773% over the years.

What is the land classification for this area?

The land classification for SHATHIK BATCHA NAGAR - Masuthi 1st Street is Residential Class IV Type - II.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

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