Guideline Value for AZHAKANDESHWARAR 1 ST STREET

Azhakandeshwarar 1 St Street guideline value

The current guideline value of Azhakandeshwarar 1 St Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Azhakandeshwarar 1 St Street has changed

The guideline value for Azhakandeshwarar 1 St Street has seen several revisions over the years. The earliest recorded figure is from 2012, when the value was Rs 2,000 per sq.ft. This value remained the same until the next revision in 2017, where it dropped significantly to Rs 1,340 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and in the most recent 2024 revision, it rose again to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Azhakandeshwarar 1 St Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• AZHAKANDESHWARAR 2nd STREET: Rs 2,200 per sq.ft (2024)
• Azhakandeshwarar Extension: Rs 2,200 per sq.ft (2024)
• Azhakandeshwarar Koil 1 St Cross Street: Rs 2,200 per sq.ft (2024)
• Azhakandeshwarar Koil Street: Rs 2,200 per sq.ft (2024)
• Azhakandeshwarar Nagar: Rs 2,200 per sq.ft (2024)
• Arumugam Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Azhakandeshwarar 1 St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhakandeshwarar 1 St Street?

The Azhakandeshwarar 1 St Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Okkiyamthuraipakkam. When buying or selling property, the guideline value serves as a benchmark for determining the applicable stamp duty and registration fees. It ensures that the government receives the correct revenue from property transactions.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is appropriately taxed.

Frequently asked questions

What is the current guideline value of Azhakandeshwarar 1 St Street?

The current guideline value of Azhakandeshwarar 1 St Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Azhakandeshwarar 1 St Street?

The land classification for Azhakandeshwarar 1 St Street is Residential Class II Type - III.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Azhakandeshwarar 1 St Street is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I approach for registration?

The Neelankarai Sub Registrar Office covers Azhakandeshwarar 1 St Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.