Guideline Value for AZHAKANDESHWARAR NAGAR

Azhakandeshwarar Nagar guideline value

The current guideline value of Azhakandeshwarar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Azhakandeshwarar Nagar has changed

The guideline value for Azhakandeshwarar Nagar has undergone several revisions over the years. Starting from Rs 135 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, then surged to Rs 2,000 per sq.ft in 2012. However, it saw a decrease to Rs 1,340 per sq.ft in 2017 before rising to Rs 2,000 per sq.ft in 2023 and finally reaching Rs 2,200 per sq.ft in 2024. The register has no figure for this street in 2002.

Between these revisions, the most significant changes include a 300% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value saw a substantial 49% increase from 2017 to 2023, and a 10% rise from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1530%.

Guideline values in Okkiyamthuraipakkam

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Azhakandeshwarar Nagar?

The Azhakandeshwarar Nagar area 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 information.

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

The guideline value is an important factor during property registration in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. The fees are based on the higher of the guideline value or the sale price, which means that buyers should be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Azhakandeshwarar Nagar?

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

How much has the guideline value changed in recent years?

In recent years, the guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an increase of 1530% since 2003.

What are the stamp duty and registration fees for properties in Azhakandeshwarar Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office registers properties in Azhakandeshwarar Nagar?

The Neelankarai Sub Registrar Office is responsible for registering properties in Azhakandeshwarar Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How does the guideline value affect property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures that the property is registered at a minimum value, which is crucial for maintaining accurate records.