Guideline Value for Agasthiyar Street

Agasthiyar Street guideline value

The current guideline value of Agasthiyar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Agasthiyar Street has changed

In the 2017 revision, the guideline value was set at Rs 1,675 per sq.ft. This figure saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, marking a change of 49%. The latest revision in 2024 has further raised the guideline value to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for Agasthiyar Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which is equal to the current guideline value of Agasthiyar Street.

• A.G.S. Colony: Rs 2,750 per sq.ft (2024)
• Adhi Street: Rs 3,850 per sq.ft (2024)
• A.G.S. Colony 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Adhisankaran Street: Rs 2,200 per sq.ft (2024)
• A.G.S. Colony 1st Street: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Agasthiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Agasthiyar Street?

The Sub Registrar Office that covers Agasthiyar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Madipakkam-1, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the official valuation.

During the registration process, the buyer must pay the applicable 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 Agasthiyar Street?

The current guideline value of Agasthiyar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024. The most recent change was a 10% increase from Rs 2,500 per sq.ft in 2023.

What are the stamp duty and registration fees for Agasthiyar Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Agasthiyar Street?

The Velacheri Sub Registrar Office covers Agasthiyar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Agasthiyar Street?

Agasthiyar Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.