Guideline Value for AZHAGIRI NAGAR

Azhagiri Nagar guideline value

The current guideline value of Azhagiri Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

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 set at Rs 40 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. The value remained unchanged at Rs 500 per sq.ft in both 2023 and the upcoming 2024 revision. Between 2012 and 2017, there was a decrease of 33%, bringing the value down to Rs 335 per sq.ft. However, from 2017 to 2023, the value rose by 49%, returning to Rs 500 per sq.ft.

Notably, the revisions for the years 2002 and 2003 do not have any figures recorded for this street. Overall, from 2007 to 2024, the guideline value has increased by 1150%.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value in this village is Rs 400 per sq.ft, making Azhagiri Nagar's 2024 figure above that median.

• Aditi Gardence: Rs 400 per sq.ft (2024)
• Divya Nagar: Rs 400 per sq.ft (2024)
• Ezhil Nagar: Rs 500 per sq.ft (2024)
• Ganapathy Nagar Colony: Rs 400 per sq.ft (2024)
• Ganapathy Syndicate: Rs 400 per sq.ft (2024)
• Kaveri Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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 Venkatapuram

The guideline value plays a crucial role in property transactions in Venkatapuram. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is assessed to calculate the applicable duties. This ensures that all transactions are recorded accurately and transparently, reflecting the prevailing market conditions as defined by the government.

Frequently asked questions

What is the current guideline value of Azhagiri Nagar?

The current guideline value of Azhagiri Nagar is Rs 500 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 40 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, remaining at Rs 500 in 2023 and 2024. The overall increase from 2007 to 2024 is 1150%.

What is the land classification of Azhagiri Nagar?

Azhagiri Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Azhagiri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.