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Guideline Value

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Guideline Value for SHATHIK BATCHA NAGAR - Masuthi Street

₹2750/sq.ft.

The guideline value for Shathik Batcha Nagar - Masuthi 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 Street

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SHATHIK BATCHA NAGAR - Masuthi Street guideline value

The current guideline value of SHATHIK BATCHA NAGAR - Masuthi 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 Street has changed

The guideline value for SHATHIK BATCHA NAGAR - Masuthi Street has seen several revisions over the years. Starting from the 2002 revision, which recorded a value of Rs 315 per sq.ft, the value increased to Rs 349 per sq.ft in 2003. The next significant jump occurred in 2007, where the value rose to Rs 500 per sq.ft, followed by a substantial increase to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft.

In summary, the changes between revisions are as follows: from 2002 to 2003, the increase was +11%; from 2003 to 2007, it was +43%; from 2007 to 2012, there was a significant increase of +400%; however, from 2012 to 2017, there was a decrease of -33%. The value then increased by +49% from 2017 to 2023, and finally, there was an increase of +10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +773%.

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 Street is below this median.

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

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

The Sub Registrar Office covering SHATHIK BATCHA NAGAR - Masuthi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the fees are based on the official valuation of the property as per the local regulations.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the applicable charges. This value serves as a benchmark for transactions, ensuring transparency and consistency in property dealings within the region.

Frequently asked questions

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

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

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

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

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

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

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