Guideline Value for Ajay Street

Ajay Street guideline value

The current guideline value of Ajay Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Ajay Street has changed

The guideline value of Ajay Street has undergone several revisions over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 299 per sq.ft in 2003, marking a 9% rise. By 2007, the value saw a significant increase to Rs 400 per sq.ft, reflecting a 34% change from the previous revision. The value remained unchanged at Rs 400 per sq.ft until 2012, when it jumped to Rs 3,000 per sq.ft, an increase of 650%.

In 2023, the guideline value was again set at Rs 3,000 per sq.ft, showing no change from the 2012 revision. However, in the latest revision of 2024, the value increased to Rs 3,300 per sq.ft, which is a 10% rise from the previous year. It is worth noting that there is no figure available for Ajay Street in the 2017 revision.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Ajay Street is below this median.

• A.G.S.Office Colony - Thilagar Street: Rs 4,950 per sq.ft (2024)
• A.G.S.Colony (Others): Rs 4,950 per sq.ft (2024)
• A.G.S.Colony Main Road (Plot Nos. 50 to 66): Rs 4,950 per sq.ft (2024)
• A.G.S.Colony Cross Street: Rs 4,950 per sq.ft (2024)
• A.K.R.Nagar: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 10th Cross street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ajay Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ajay Street?

Ajay 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 is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Valasaravakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Accurate knowledge of the guideline value can help in making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of Ajay Street?

The current guideline value of Ajay Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 1100% across the revisions.

What is the registration fee for property in Ajay Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Which office handles property registrations for Ajay Street?

The Virugambakkam Sub Registrar Office handles property registrations for Ajay Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum value for registration and influencing the calculation of stamp duty and registration fees. Buyers and sellers must consider the guideline value to comply with legal requirements during property transfers.