Guideline Value for Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street

Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street guideline value

The current guideline value for Sathik Baha Sheikh Abdulla Nagar 3 rd Cross 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 is classified as Residential Class IV Type - II.

How the guideline value of Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street has changed

Over the years, the guideline value for Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The value then rose to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,750 per sq.ft. The changes between these revisions include a 400% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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 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 Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street is below this median.

• Sathik Basha Sheikh Abdullah Nagar 1 st Cross Street: Rs 2,750 per sq.ft (2024)
• School 1st Cross Street: Rs 3,300 per sq.ft (2024)
• School 1st Street: Rs 3,300 per sq.ft (2024)
• School 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• School 2nd Street: Rs 3,300 per sq.ft (2024)
• School 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathik Baha Sheikh Abdulla Nagar 3 rd Cross 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 amount to 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street?

The Sub Registrar Office that covers Sathik Baha Sheikh Abdulla Nagar 3 rd Cross 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 plays a crucial role in the registration of property transactions in Virugambakkam. It is the basis for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street?

The current guideline value for Sathik Baha Sheikh Abdulla Nagar 3 rd Cross 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 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for this area?

Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the 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, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.