Guideline Value for ALAGIRI STREET

Alagiri Street guideline value

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

How the guideline value of Alagiri Street has changed

The guideline value for Alagiri Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 102 per sq.ft. This increased to Rs 120 per sq.ft in 2003, marking an 18% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, which was a 233% increase. Following that, it rose dramatically to Rs 1,500 per sq.ft in 2012, reflecting a 275% increase. However, the value decreased to Rs 1,005 per sq.ft in 2017, showing a decline of 33%. The most recent revisions show that the value was Rs 1,500 per sq.ft in 2023, and it has now increased to Rs 1,650 per sq.ft in 2024, a rise of 10%.

There are no figures available for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 1,518%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Alagiri Street.

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

Stamp duty and registration fee for property in Alagiri Street

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 be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Alagiri Street?

The Sub Registrar Office that covers Alagiri 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 Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value or the sale price, whichever is higher, is considered for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alagiri Street?

The current guideline value of Alagiri Street 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 102 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,518%.

What is the land classification for Alagiri Street?

Alagiri Street is classified as Residential Class IV Type - I.

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

The Sub Registrar Office for Alagiri 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.

How is the stamp duty calculated for properties in Alagiri Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.