Guideline Value for AZAD STREET

Azad Street guideline value

The current guideline value of Azad Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Azad Street has changed

The guideline value for Azad Street has seen several revisions over the years. In 2002, the value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 550 per sq.ft, reflecting a 19% increase. The 2012 revision saw a significant jump to Rs 2,500 per sq.ft, representing a 355% increase. However, in 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 543%. The register has no figures for revisions in years other than those specified.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with the 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Azad Street.

• Azhagiri Samy 1st Lane: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 1st Street: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 2nd Lane: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 2nd Street: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 3rd Lane: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Azad Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azad Street?

The Sub Registrar Office that covers Azad Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Azad Street?

The current guideline value of Azad Street is Rs 2,700 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 420 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 543% over this period.

What is the land classification of Azad Street?

Azad Street is classified as Residential Class III Type - II under the Purasaivakkam SRO.

What are the stamp duty and registration fees for properties on Azad Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Azad Street located?

The Sub Registrar Office for Azad Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, under the Purasaivakkam SRO.