Guideline Value for ALAIAMMAN KOIL STREET

Alaiamman Koil Street guideline value

The current guideline value of Alaiamman Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Alaiamman Koil Street has changed

The guideline value for Alaiamman Koil Street has undergone several revisions over the years. In 2002, the value was Rs 1,391 per sq.ft, which increased to Rs 1,544 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting a 30% increase. Following this, there was a substantial jump to Rs 6,000 per sq.ft in 2012, which represented a 200% rise. However, the value decreased to Rs 4,020 per sq.ft in 2017, showing a decline of 33%. In 2023, the guideline value increased to Rs 6,000 per sq.ft, and the latest revision in 2024 set it at Rs 6,600 per sq.ft, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 374%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Alaiamman Koil Street's 2024 figure below the median.

• Amudham Colony: Rs 6,600 per sq.ft (2024)
• Ananthan Street: Rs 11,000 per sq.ft (2024)
• Abdul Azeez Street: Rs 11,000 per sq.ft (2024)
• Annai Sathya Bazaar Street: Rs 11,000 per sq.ft (2024)
• Anna Street: Rs 8,300 per sq.ft (2024)
• Arcot Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Alaiamman Koil Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 66,00,000. The stamp duty at 7% amounts to Rs 4,62,000, and the registration fee at 2% is Rs 1,32,000, totaling Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alaiamman Koil Street?

The Sub Registrar Office covering Alaiamman Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Alaiamman Koil Street?

The current guideline value of Alaiamman Koil Street is Rs 6,600 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 1,391 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of 374% over this period.

What is the land classification of Alaiamman Koil Street?

Alaiamman Koil Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Alaiamman Koil Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 5,94,000, based on the current guideline value of Rs 66,00,000.

Which office handles the registration for Alaiamman Koil Street?

The Thiyagaraya nagar Sub Registrar Office handles the registration for Alaiamman Koil Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.