Guideline Value for ALAGIRI NAGAR 1ST STREET

Alagiri Nagar 1st Street guideline value

The current guideline value of Alagiri Nagar 1st Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Alagiri Nagar 1st Street has changed

The guideline value for Alagiri Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,650 per sq.ft, which increased significantly to Rs 5,800 per sq.ft in 2012. However, it dropped to Rs 3,886 per sq.ft in 2017 before rising to Rs 5,800 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 6,300 per sq.ft, marking a 9% increase from the previous year.

Between these revisions, the changes were notable. From 2007 to 2012, the value increased by 252%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, there has been an increase of 282%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Alagiri Nagar 1st Street's 2024 figure above that median.

• Alagiri Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 4th Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 5th Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 6th Cross Street: Rs 6,300 per sq.ft (2024)
• ALAGIRI NAGAR 6TH CROSS STREET (Aravind Apt - 100feet Road): Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Alagiri Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total to Rs 5,67,000. 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 further calculations.

Which Sub Registrar Office covers Alagiri Nagar 1st Street?

The Sub Registrar Office that covers Alagiri Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value for calculating applicable duties and fees. This ensures that both parties are aware of the financial implications of the transaction, as the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Alagiri Nagar 1st Street?

The current guideline value of Alagiri Nagar 1st Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,650 per sq.ft in 2007 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 282% over this period.

What is the land classification for Alagiri Nagar 1st Street?

Alagiri Nagar 1st Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property in Alagiri Nagar 1st Street?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Where is the Sub Registrar Office for Alagiri Nagar 1st Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.