Guideline Value for AL MASS NAGAR

Al Mass Nagar guideline value

The current guideline value of Al Mass Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village under the Thiruvottiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Al Mass Nagar has changed

The guideline value for Al Mass Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023, which reflects a change of +10%. Prior to that, the 2017 revision had the guideline value at Rs 335 per sq.ft, marking a significant increase of +49% to the 2023 figure. The overall change from the 2017 to the 2024 revision is +64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft, with a median value of Rs 440 per sq.ft. Al Mass Nagar's 2024 figure of Rs 550 per sq.ft is above this median.

• Ambal Nagar/Ext: Rs 715 per sq.ft (2024)
• Asirvadham Nagar: Rs 440 per sq.ft (2024)
• Charles Nagar: Rs 440 per sq.ft (2024)
• Devi Karumari Nagar/ Ext: Rs 495 per sq.ft (2024)
• Durugan Colony: Rs 550 per sq.ft (2024)
• Ekkal Colony: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Al Mass Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Al Mass Nagar?

The Sub Registrar Office that covers Al Mass Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Vellivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is registered at a fair value, preventing undervaluation. This value is used by the authorities to calculate the necessary fees and taxes associated with the property transfer.

Frequently asked questions

What is the current guideline value of Al Mass Nagar?

The current guideline value of Al Mass Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of +64%.

What are the stamp duty and registration fees for property in Al Mass Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for Al Mass Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Al Mass Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions. It is revised periodically to reflect changes in the real estate landscape.