Guideline Value for AZHAHIRI STREET (WARD -8)

Azhahiri Street (Ward -8) guideline value

The current guideline value of Azhahiri Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Azhahiri Street (Ward -8) has changed

The guideline value for Azhahiri Street (Ward -8) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

There are no recorded figures for Azhahiri Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Azhahiri Street's 2024 figure above this median.

• Ayya Nagar (Sa): Rs 550 per sq.ft (2024)
• Avvaiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Avvai Duraisamy Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• Bajanai Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Bajanai Koil Street (Ward -19): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Azhahiri Street (Ward -8)

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 Azhahiri Street (Ward -8)?

Azhahiri Street (Ward -8) falls under the Chengleput Joint II Sub Registrar Office located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Peramanoor, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the official transfer of ownership. This ensures that the transaction is recorded accurately and legally within the jurisdiction.

Frequently asked questions

What is the current guideline value of Azhahiri Street (Ward -8)?

The current guideline value of Azhahiri Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the other streets in Peramanoor with their guideline values?

Other streets in Peramanoor include Ayya Nagar (Sa) at Rs 550 per sq.ft, Avvaiyar Street (Ward -7) at Rs 1,320 per sq.ft, and Avvai Duraisamy Street (Ward -4) at Rs 1,320 per sq.ft, among others.

What fees are associated with buying property on Azhahiri Street (Ward -8)?

When buying property on Azhahiri Street, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Azhahiri Street (Ward -8)?

The registration for Azhahiri Street (Ward -8) is handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.