Guideline Value for A.G.S. Colony 2nd street

A.G.S. Colony 2nd street guideline value

The current guideline value of A.G.S. Colony 2nd street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under Residential Class I Type - III land classification.

How the guideline value of A.G.S. Colony 2nd street has changed

The guideline value for A.G.S. Colony 2nd street has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This was followed by a significant increase to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 further increased the guideline value to Rs 2,750 per sq.ft, which represents a 10% increase from the 2023 figure.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is equal to the current figure for A.G.S. Colony 2nd street.

• A.G.S. Colony 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony 3rd street: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony 1st Street: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony 4th street: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony 1st Cross Street: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in A.G.S. Colony 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.G.S. Colony 2nd street?

The A.G.S. Colony 2nd street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value serves as a benchmark to ensure that the transaction is documented at a value that reflects the official rates set by the government. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of A.G.S. Colony 2nd street?

The current guideline value of A.G.S. Colony 2nd street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%, rising from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft.

What are the stamp duty and registration fees for a property in A.G.S. Colony 2nd street?

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 A.G.S. Colony 2nd street?

The Velacheri Sub Registrar Office covers A.G.S. Colony 2nd street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of A.G.S. Colony 2nd street?

A.G.S. Colony 2nd street is classified as Residential Class I Type - III under the guideline value register.