Guideline Value for A.G.S. COLONY EXTENTION

A.G.S. Colony Extention guideline value

The current guideline value of A.G.S. Colony Extention is Rs 8,250 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village, under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of A.G.S. Colony Extention has changed

The guideline value for A.G.S. Colony Extention has seen several revisions over the years. In 2002, the value was Rs 732 per sq.ft, which increased to Rs 810 per sq.ft in 2003. The following revision in 2007 saw a significant jump to Rs 1,300 per sq.ft, marking an increase of 60%. By 2012, the value rose to Rs 7,500 per sq.ft, reflecting a substantial increase of 477%. However, the value then decreased to Rs 5,025 per sq.ft in 2017, a drop of 33%. The guideline value was Rs 7,500 per sq.ft in 2023, and it has now increased to Rs 8,250 per sq.ft in 2024, which is a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1,027%. The register has no figure for the years not mentioned above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value for A.G.S. Colony Extention is below this median.

• A.I.B.E.A. Nagar: Rs 7,150 per sq.ft (2024)
• A.G.S. Colony 2nd Main Road: Rs 8,250 per sq.ft (2024)
• A.G.S. Colony 1st Main Road: Rs 8,250 per sq.ft (2024)
• A.G.S. Colony 1st 2nd & 3rd Street: Rs 8,250 per sq.ft (2024)
• Ambethkar Street: Rs 7,150 per sq.ft (2024)
• Anna Colony: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in A.G.S. Colony Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, making the total cost for these fees Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.G.S. Colony Extention?

The A.G.S. Colony Extention falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Thiruvanmiyur, 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 crucial for both buyers and sellers, as it ensures compliance with local regulations during the registration process. It also helps in assessing the financial implications of the transaction, including the costs associated with stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of A.G.S. Colony Extention?

The current guideline value of A.G.S. Colony Extention is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 732 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 1,027% over this period.

What are the registration fees for property in A.G.S. Colony Extention?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers A.G.S. Colony Extention?

The Chennai South Joint I Sub Registrar Office covers A.G.S. Colony Extention, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of A.G.S. Colony Extention?

A.G.S. Colony Extention is classified as Residential Class II Type - I, which indicates its suitability for residential development.