Guideline Value for Agasthiar Street

Agasthiar Street guideline value

The current guideline value of Agasthiar Street in Chembakkam village is Rs 950 per sq.ft, effective from 1 July 2024. The street falls under the Selaiyur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Agasthiar Street has changed

Agasthiar Street has seen several revisions in its guideline value over the years. In 2007, the guideline value was Rs 250 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in 2012, marking a 260% rise. However, it then decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, rising to Rs 900 per sq.ft in 2023, which was a 49% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 950 per sq.ft, reflecting a 6% increase from 2023.

It is important to note that the register has no figures for Agasthiar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Agasthiar Street's 2024 figure below that median.

• Airport Colony: Rs 950 per sq.ft (2024)
• Airport Colony Extension: Rs 6,700 per sq.ft (2024)
• Airport Exployee Colony 1st Street: Rs 950 per sq.ft (2024)
• Airport Exployee Colony 2nd Street: Rs 950 per sq.ft (2024)
• Adhi Parnthamanar Street: Rs 850 per sq.ft (2024)
• Ambal Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Agasthiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, totaling Rs 85,500. It is important to note that the 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 Agasthiar Street?

The Sub Registrar Office that covers Agasthiar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is the minimum value considered for these calculations, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in establishing a baseline for the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Agasthiar Street?

The current guideline value of Agasthiar Street is Rs 950 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 250 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, representing an overall increase of 280% over the years.

What are the stamp duty and registration fees for properties in Agasthiar Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which office handles registrations for Agasthiar Street?

The Selaiyur Sub Registrar Office handles registrations for Agasthiar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a minimum value for these calculations, ensuring that the transaction is accurately recorded.