Guideline Value for ALAGIRI NAGAR

Alagiri Nagar guideline value

The current guideline value of Alagiri Nagar, located in Pallikaranai village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Alagiri Nagar has changed

The guideline value for Alagiri Nagar has seen significant changes over the years. In 2002, the value was Rs 72 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 39% rise. By 2007, the value jumped to Rs 400 per sq.ft, a substantial increase of 300%. The value remained at Rs 400 per sq.ft until 2012, when it rose to Rs 1,500 per sq.ft, reflecting a 275% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. In 2023, the value was revised to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,650 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,192%. The register has no figures for the years not listed above.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value for Alagiri Nagar.

• Alagiri Street: Rs 1,650 per sq.ft (2024)
• Alagiri Street Extn: Rs 1,650 per sq.ft (2024)
• All Workers Labour Colony: Rs 1,650 per sq.ft (2024)
• A.G.S.Colony: Rs 2,200 per sq.ft (2024)
• Ambal Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Agnilium Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Alagiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Alagiri Nagar?

The Sub Registrar Office that covers Alagiri Nagar 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value set by the government.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations during the property transaction.

Frequently asked questions

What is the current guideline value of Alagiri Nagar?

The current guideline value of Alagiri Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 72 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 2,192%.

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

For a 1,000 sq.ft property, the total guideline value is Rs 16,50,000, resulting in a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Alagiri Nagar?

The Chennai South Joint I Sub Registrar Office covers Alagiri Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Alagiri Nagar?

Alagiri Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes within the Chennai South Joint I SRO.