Guideline Value for AZHAGIRI STREET

Azhagiri Street guideline value

The current guideline value of Azhagiri Street, located in Perambur village under the Purasaivakkam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Azhagiri Street has changed

Since the 2002 revision, the guideline value for Azhagiri Street has seen significant changes. In 2002, the value was Rs 353 per sq.ft, which increased to Rs 387 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 500 per sq.ft in 2007, reflecting a 29% increase. Following that, the value surged to Rs 2,500 per sq.ft in 2012, showing a substantial 400% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, representing a 33% drop. The value was Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,700 per sq.ft in 2024, which is an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 665%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Azhagiri Street.

• Azhagiri Samy Street: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy Road All Streets: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 8th Street: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 8th Lane: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 7th Street: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 7th Lane: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. 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 precise calculations.

Which Sub Registrar Office covers Azhagiri Street?

The Sub Registrar Office that covers Azhagiri Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations and ensure that the sale price meets or exceeds the guideline value.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Azhagiri Street?

The current guideline value of Azhagiri Street is Rs 2,700 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 353 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 665% over the years.

What is the stamp duty rate for properties in Azhagiri Street?

The stamp duty rate for properties in Azhagiri Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Azhagiri Street located?

The Sub Registrar Office for Azhagiri Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur that share the same guideline value of Rs 2,700 per sq.ft include Azhagiri Samy Street, Azhagiri Samy Road All Streets, Azhagiri Samy 8th Street, Azhagiri Samy 8th Lane, Azhagiri Samy 7th Street, and Azhagiri Samy 7th Lane.