Guideline Value for ALAGIRI NAGAR 2ND STREET

Alagiri Nagar 2nd Street guideline value

The current guideline value of Alagiri Nagar 2nd 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 2nd Street has changed

The guideline value for Alagiri Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This figure increased significantly to Rs 5,800 per sq.ft in 2012, representing a growth of 287%. However, from 2012 to 2017, the value decreased to Rs 3,886 per sq.ft, marking a decline of 33%. The value then rose again to Rs 5,800 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 6,300 per sq.ft in 2024, which is a 9% rise from the previous year.

There are no recorded figures for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 320%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Alagiri Nagar 2nd Street's 2024 guideline value is above this median.

• Alagiri Nagar 1st 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 2nd 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 amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total cost 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.

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

Which Sub Registrar Office covers Alagiri Nagar 2nd Street?

The Sub Registrar Office that covers Alagiri Nagar 2nd 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence negotiations between buyers and sellers. The guideline value must be considered to comply with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Alagiri Nagar 2nd Street?

The current guideline value of Alagiri Nagar 2nd 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 1,500 per sq.ft in 2007 to Rs 6,300 per sq.ft in 2024, showing an overall increase of 320% over the years.

What is the land classification of Alagiri Nagar 2nd Street?

Alagiri Nagar 2nd Street is classified as Residential Special Type - III.

How is stamp duty calculated for properties in Alagiri Nagar 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 63,00,000 would incur a stamp duty of Rs 4,41,000.

Where can I find the Sub Registrar Office for Alagiri Nagar 2nd Street?

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