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Guideline Value

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Guideline Value for SHATHIK BATCHA NAGAR - Masuthi 3rd Street

₹2750/sq.ft.

The guideline value for Shathik Batcha Nagar - Masuthi 3rd 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 ₹750 /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 3rd Street

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SHATHIK BATCHA NAGAR - Masuthi 3rd Street guideline value

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 3rd 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 falls under the Residential Class IV Type - II land classification.

How the guideline value of SHATHIK BATCHA NAGAR - Masuthi 3rd Street has changed

The guideline value for SHATHIK BATCHA NAGAR - Masuthi 3rd Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 315 per sq.ft, which increased to Rs 349 per sq.ft in 2003, marking an increase of 11%. The value then saw a significant rise to Rs 750 per sq.ft in 2007, which was an increase of 115%. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of 233% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 2,500 per sq.ft, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year. Notably, there are no figures available for the revisions in years not listed 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. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that SHATHIK BATCHA NAGAR - Masuthi 3rd Street's 2024 figure is below that median.

Stamp duty and registration fee for property in SHATHIK BATCHA NAGAR - Masuthi 3rd 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, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SHATHIK BATCHA NAGAR - Masuthi 3rd Street?

The Sub Registrar Office that covers SHATHIK BATCHA NAGAR - Masuthi 3rd 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 benchmark for determining the minimum value at which a property can be registered. When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers as it impacts the overall costs involved in property transactions. It ensures that the property is registered at a value that reflects the prevailing rates in the area, providing a standardized approach to property valuation.

Frequently asked questions

What is the current guideline value of SHATHIK BATCHA NAGAR - Masuthi 3rd Street?

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 3rd 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 SHATHIK BATCHA NAGAR - Masuthi 3rd Street?

SHATHIK BATCHA NAGAR - Masuthi 3rd Street is classified under Residential Class IV Type - II.

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

The Sub Registrar Office for SHATHIK BATCHA NAGAR - Masuthi 3rd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

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