Guideline Value for ALAGAR STREET

Alagar Street guideline value

The current guideline value of Alagar Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Alagar Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Alagar Street.

• Alagiri Street: Rs 2,200 per sq.ft (2024)
• Amaravathi Nagar Anna Street: Rs 2,750 per sq.ft (2024)
• Amaravathi Nagar Sarathi Nagar: Rs 2,750 per sq.ft (2024)
• Adhiyaman Street: Rs 2,200 per sq.ft (2024)
• Ambethkar Street: Rs 2,200 per sq.ft (2024)
• Adhiammal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Alagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 further calculations.

Which Sub Registrar Office covers Alagar Street?

The Sub Registrar Office that covers Alagar Street is 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 information.

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

The guideline value plays a crucial role in property transactions in Jelandianpettai. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alagar Street?

The current guideline value of Alagar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Alagar Street has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, followed by Rs 2,000 per sq.ft in 2023 and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Alagar Street?

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

What are the stamp duty rates for property transactions?

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

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

The Sub Registrar Office covering Alagar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.