Guideline Value for AZEEZ NAGAR 1ST STREET

Azeez Nagar 1st Street guideline value

The current guideline value of Azeez Nagar 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - II.

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

Over the years, the guideline value of Azeez Nagar 1st Street has seen significant changes. The earliest recorded revision was in 2003, where the value was Rs 1,032 per sq.ft. This value increased to Rs 1,800 per sq.ft in 2007, marking a substantial rise of 74%. In 2012, the value remained stable at Rs 6,500 per sq.ft, and this figure was unchanged until 2023. The 2023 revision also recorded Rs 6,500 per sq.ft, but in 2024, the guideline value jumped to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2017 for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 588%.

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. Azeez Nagar 1st Street's 2024 guideline value is above this median.

• Azeez Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Azeez Nagar 3rd Street: Rs 7,100 per sq.ft (2024)
• Azeez Nagar Main Road: Rs 8,200 per sq.ft (2024)
• Azath Nagar 4th Street: Rs 3,800 per sq.ft (2024)
• Azath Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Azath Nagar 2nd Street: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azeez Nagar 1st Street?

The Sub Registrar Office that covers Azeez 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 information.

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

When buying or selling property in Puliyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used to assess the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per the government's regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This value is subject to periodic revisions, which can affect the overall costs involved in property transactions.

Frequently asked questions

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

The current guideline value of Azeez Nagar 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,032 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 588% over this period.

What is the land classification of Azeez Nagar 1st Street?

Azeez Nagar 1st Street is classified as Residential Special Type - II.

What are the other streets in Puliyur with similar guideline values?

Other streets in Puliyur with similar guideline values include Azeez Nagar 2nd Street and Azeez Nagar 3rd Street, both at Rs 7,100 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Azeez Nagar 1st Street?

The Kodambakkam Sub Registrar Office covers Azeez Nagar 1st Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.