Guideline Value for AGATHIAR STREET

Agathiar Street guideline value

The current guideline value of Agathiar Street in Ramapuram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Agathiar Street has changed

Over the years, the guideline value of Agathiar Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for Agathiar Street for the years 2002, 2003, and 2007. This means that the first recorded value for this street was in 2012 at Rs 2,500 per sq.ft.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Agathiar Street's 2024 figure of Rs 2,750 per sq.ft is below this median.

• Agathiya Nagar: Rs 2,750 per sq.ft (2024)
• A.K.R. Garden: Rs 3,100 per sq.ft (2024)
• Alagapuri 1st Avenue: Rs 3,550 per sq.ft (2024)
• Alagapuri 1st Main Road: Rs 3,550 per sq.ft (2024)
• Alagapuri 2nd Avenue: Rs 3,550 per sq.ft (2024)
• Alagapuri 2nd Main Road: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Agathiar 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, resulting in a total cost of 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Agathiar Street?

The Sub Registrar Office that covers Agathiar Street is the Chennai South Joint II 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 Ramapuram

The guideline value plays a crucial role in the registration process for property transactions in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the registration department and is revised periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, regardless of fluctuations in market prices.

Frequently asked questions

What is the current guideline value of Agathiar Street?

The current guideline value of Agathiar 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 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, an increase of 10%. It was Rs 1,675 per sq.ft in 2017, which increased by 49% to the 2023 figure.

What is the land classification for Agathiar Street?

Agathiar Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

What are the stamp duty rates for properties in Agathiar Street?

The stamp duty for properties in Agathiar Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Agathiar Street?

The Sub Registrar Office for Agathiar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.