Guideline Value for AZATH NAGAR 2ND STREET

Azath Nagar 2nd Street guideline value

The current guideline value of Azath Nagar 2nd 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 is classified as Residential Class IV Type - II.

How the guideline value of Azath Nagar 2nd Street has changed

The guideline value for Azath Nagar 2nd Street has undergone several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the 2023 revision saw a significant increase to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 10% rise. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

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, with a median value of Rs 6,000 per sq.ft. The guideline value for Azath Nagar 2nd Street is below this median.

• Azath Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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. Together, the total fees would amount to 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 2nd Street?

The Sub Registrar Office that covers Azath Nagar 2nd 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 Arumbakkam

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Azath Nagar 2nd Street?

The current guideline value of Azath Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Azath Nagar 2nd Street?

Azath Nagar 2nd Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

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