Guideline Value for AZATH NAGAR 1ST STREET

Azath Nagar 1st Street guideline value

The current guideline value of Azath Nagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - III.

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

Over the years, the guideline value of Azath Nagar 1st Street has seen several revisions. The earliest recorded guideline value was Rs 561 per sq.ft in 2003, which increased to Rs 900 per sq.ft in 2007. Following this, the value surged to Rs 3,500 per sq.ft in 2012, but then decreased to Rs 2,345 per sq.ft in 2017. Currently, the guideline value stands at Rs 3,800 per sq.ft, reflecting a 62% increase from the 2017 revision.

From 2003 to 2007, the value increased by 60%, and then it experienced a significant jump of 289% from 2007 to 2012. However, the value dropped by 33% from 2012 to 2017. Overall, from 2003 to 2024, the guideline value has increased by 577%. The register has no figures for the years 2023 and 2002 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Azath Nagar 1st Street is below this median.

• Azath Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Azath Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Azath Nagar 4th Street: Rs 3,800 per sq.ft (2024)
• Azeez Nagar 1st Street: Rs 7,100 per sq.ft (2024)
• Azeez Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Azeez Nagar 3rd Street: Rs 7,100 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty, charged at 7%, would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration would be Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, 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. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Puliyur, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally documented and taxes are appropriately paid.

When a property is sold, the buyer must ensure that the sale price is equal to or higher than the guideline value, as the stamp duty is based on the higher of the two. This process helps maintain transparency and legality in property transactions within the region.

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 3,800 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 561 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 577% over the years.

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

Azath Nagar 1st Street is classified as Residential Class IV Type - III.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, leading to a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for Azath Nagar 1st Street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, handles property registrations for Azath Nagar 1st Street.