Guideline Value for AZATH NAGAR 4TH STREET

Azath Nagar 4th Street guideline value

The current guideline value of Azath Nagar 4th 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 4th Street has changed

Over the years, the guideline value of Azath Nagar 4th Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,680 per sq.ft. The value remained at Rs 4,000 per sq.ft until the 2023 revision, which increased it to Rs 4,000 per sq.ft, before rising again to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase.

From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 4,000 per sq.ft. The overall change from the 2012 revision to the current 2024 revision shows a modest increase of 10%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, placing the 2024 figure for Azath Nagar 4th Street below this median.

• Azath Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Azath Nagar 1st 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 4th 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 amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total 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 4th Street?

The Sub Registrar Office that covers Azath Nagar 4th 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 is a crucial factor 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 through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it influences the overall costs associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for the calculation of applicable duties and fees.

Frequently asked questions

What is the current guideline value of Azath Nagar 4th Street?

The current guideline value of Azath Nagar 4th 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 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. It was Rs 2,680 per sq.ft in 2017, which increased to Rs 4,000 per sq.ft in 2023.

What is the land classification of Azath Nagar 4th Street?

Azath Nagar 4th Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Azath Nagar 4th Street?

The registration office for Azath Nagar 4th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Azath Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.