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Guideline Value

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Guideline Value for SHATHIK BATCHA NAGAR - Masuthi 2nd Street

₹2750/sq.ft.

The guideline value for Shathik Batcha Nagar - Masuthi 2nd 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 2nd Street

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SHATHIK BATCHA NAGAR - Masuthi 2nd Street guideline value

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 2nd Street is Rs 2,750 per sq.ft, effective from the 2024 revision. 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 SHATHIK BATCHA NAGAR - Masuthi 2nd Street has changed

The guideline value for SHATHIK BATCHA NAGAR - Masuthi 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 315 per sq.ft. This increased to Rs 349 per sq.ft in 2003, marking an 11% increase. In 2007, the value rose significantly to Rs 500 per sq.ft, which was a 43% increase. The 2012 revision saw a jump to Rs 2,500 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, in 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, followed by a 10% increase to Rs 2,750 per sq.ft in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 773%. There are no figures available for the years not mentioned in the register for this street.

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 of SHATHIK BATCHA NAGAR - Masuthi 2nd Street is below this median.

Stamp duty and registration fee for property in SHATHIK BATCHA NAGAR - Masuthi 2nd 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, making the total cost for these fees Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SHATHIK BATCHA NAGAR - Masuthi 2nd Street?

The Sub Registrar Office that covers SHATHIK BATCHA NAGAR - Masuthi 2nd 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 registering property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential legal issues.

When buying or selling property, the guideline value helps in establishing a fair price for registration purposes. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction and to understand the financial implications involved.

Frequently asked questions

What is the current guideline value of SHATHIK BATCHA NAGAR - Masuthi 2nd Street?

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 2nd Street is Rs 2,750 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 315 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 773% over the years.

What is the land classification for SHATHIK BATCHA NAGAR - Masuthi 2nd Street?

SHATHIK BATCHA NAGAR - Masuthi 2nd Street is classified as Residential Class IV Type - II.

Where can I find the Virugambakkam Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is calculated at 2% of the same. For example, on a 1,000 sq.ft plot at Rs 2,750 per sq.ft, the total fees would amount to Rs 2,47,500.