Guideline Value for ALAMARAM STREET

Alamaram Street guideline value

The current guideline value of Alamaram Street in Nemilicherry village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Alamaram Street has changed

Over the years, the guideline value of Alamaram Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Alamaram Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, and Alamaram Street's 2024 figure of Rs 2,420 per sq.ft is above this median.

• Amaravathi Street: Rs 1,100 per sq.ft (2024)
• A.G.S.Staff Colony: Rs 2,420 per sq.ft (2024)
• A.G.S. Colony: Rs 2,420 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,160 per sq.ft (2024)
• Agastheesvarar Nagar: Rs 2,750 per sq.ft (2024)
• Abirami Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Alamaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. 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 detailed calculations.

Which Sub Registrar Office covers Alamaram Street?

The Sub Registrar Office that covers Alamaram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be sold or transferred, ensuring that the registration reflects a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the property transaction process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Alamaram Street?

The current guideline value of Alamaram Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification for Alamaram Street?

Alamaram Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Alamaram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property in Alamaram Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,69,400 at 7% of the guideline value.