Guideline Value for AZHVAR THIRUNAGAR - Kattabomman Street

AZHVAR THIRUNAGAR - Kattabomman Street guideline value

The current guideline value of AZHVAR THIRUNAGAR - Kattabomman Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of AZHVAR THIRUNAGAR - Kattabomman Street has changed

The guideline value for AZHVAR THIRUNAGAR - Kattabomman Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 569 per sq.ft. This increased to Rs 619 per sq.ft in 2003, marking a 9% rise. In 2007, the value jumped significantly to Rs 750 per sq.ft, reflecting a 21% increase. Following this, the value surged to Rs 4,500 per sq.ft in 2012, a substantial 500% increase. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 770%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, making the current value of AZHVAR THIRUNAGAR - Kattabomman Street above this median.

• AZHVAR THIRUNAGAR - Jawaharlal Nehru Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Nakkeeran Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Indra Gandhi Road: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Pallavan Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Gandhi Road: Rs 5,500 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Pandian Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in AZHVAR THIRUNAGAR - Kattabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers AZHVAR THIRUNAGAR - Kattabomman Street?

The AZHVAR THIRUNAGAR - Kattabomman Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. 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 a property is sold, the buyer must pay stamp duty and registration fees 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 AZHVAR THIRUNAGAR - Kattabomman Street?

The current guideline value of AZHVAR THIRUNAGAR - Kattabomman Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 569 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, with various increases and decreases recorded in between.

What is the registration office for AZHVAR THIRUNAGAR - Kattabomman Street?

The registration office for AZHVAR THIRUNAGAR - Kattabomman Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How do stamp duty and registration fees work for properties in this area?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000.

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, with AZHVAR THIRUNAGAR - Kattabomman Street's value being above this median.