Guideline Value for AZHAGIRI STREET

Azhagiri Street guideline value

The current guideline value of Azhagiri Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Azhagiri Street has changed

The guideline value for Azhagiri Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, this value dropped to Rs 871 per sq.ft in the 2017 revision, before rising again to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 saw a remarkable increase of 767%. Overall, from 2007 to 2024, the guideline value has increased by 767%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Azhagiri Street's 2024 guideline value of Rs 1,300 per sq.ft is above this median.

• Baba Street: Rs 800 per sq.ft (2024)
• Awwai Street: Rs 1,000 per sq.ft (2024)
• Awaiyar Street: Rs 1,000 per sq.ft (2024)
• Arumugam Street: Rs 1,300 per sq.ft (2024)
• Anna Street: Rs 1,300 per sq.ft (2024)
• Anna Nagar Sellum Salai: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagiri Street?

The Sub Registrar Office that covers Azhagiri Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vengathur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any potential disputes or issues related to property valuation.

Frequently asked questions

What is the current guideline value of Azhagiri Street?

The current guideline value of Azhagiri Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and has remained at Rs 1,300 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Azhagiri Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office handles Azhagiri Street?

The Manavalanagar Sub Registrar Office handles Azhagiri Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

What is the land classification of Azhagiri Street?

Azhagiri Street is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.