Guideline Value for AZHAGIRI NAGAR

Azhagiri Nagar guideline value

The current guideline value of Azhagiri Nagar, located in Chettipunniyam village, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Azhagiri Nagar has changed

The guideline value for Azhagiri Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017 before stabilizing at Rs 700 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

From 2017 to 2023, there was a notable increase of 49%, while the period from 2012 to 2017 saw a decrease of 33%. The increase from 2007 to 2012 was substantial at 180%, and overall, from 2007 to 2024, the guideline value has risen by 180%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft. The median guideline value for these streets is Rs 900 per sq.ft, placing Azhagiri Nagar's 2024 figure below that median.

• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Bhavani Nagar: Rs 1,200 per sq.ft (2024)
• Chennais Enclave: Rs 1,800 per sq.ft (2024)
• Daga Nagar: Rs 1,500 per sq.ft (2024)
• Ganesan Nagar: Rs 900 per sq.ft (2024)
• G.K. Avenue: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Azhagiri Nagar?

Azhagiri Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chettipunniyam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is not lower than the guideline value, as this could lead to legal complications. Thus, understanding the guideline value is vital for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Azhagiri Nagar?

The current guideline value of Azhagiri Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft since 2023.

What is the median guideline value in Chettipunniyam?

The median guideline value for the 47 streets in Chettipunniyam under the Chengleput Joint II SRO is Rs 900 per sq.ft.

What are the stamp duty rates for properties in Azhagiri Nagar?

The stamp duty rate for properties in Azhagiri Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Azhagiri Nagar?

The Sub Registrar Office covering Azhagiri Nagar is the Chengleput Joint II SRO, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.