Guideline Value for AZATH NAGAR 1ST STREET

Azath Nagar 1st Street guideline value

The current guideline value of Azath Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, and it is classified as Residential Class IV Type - II.

How the guideline value of Azath Nagar 1st Street has changed

The guideline value for Azath Nagar 1st Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 4,000 per sq.ft. In 2017, this value decreased to Rs 2,680 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, representing a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street, indicating that no revisions were recorded during those years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing the guideline value of Azath Nagar 1st Street below this median.

• Azath Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Azath Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Ayyavoo Colony - Vinayakar Koil Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony - Vimala Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony - Vijayeswari Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony - Sridharan Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Azath Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azath Nagar 1st Street?

The Sub Registrar Office that covers Azath Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For further details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Arumbakkam, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring compliance with these values helps facilitate a smooth registration process at the Kodambakkam SRO.

Frequently asked questions

What is the current guideline value of Azath Nagar 1st Street?

The current guideline value of Azath Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced fluctuations, with a decrease in 2017 to Rs 2,680 per sq.ft, followed by increases in subsequent revisions, reaching Rs 4,400 per sq.ft in 2024.

What is the land classification for Azath Nagar 1st Street?

Azath Nagar 1st Street is classified as Residential Class IV Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Azath Nagar 1st Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.