Guideline Value for Alagammal Nagar 1st Street

Alagammal Nagar 1st Street guideline value

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

How the guideline value of Alagammal Nagar 1st Street has changed

The guideline value for Alagammal Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 270 per sq.ft, which increased to Rs 400 per sq.ft in both 2003 and 2007. The value then rose significantly to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The 2023 revision marked an increase to Rs 2,500 per sq.ft, followed by the current value of Rs 2,750 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2024, the overall increase is +919%. The jump from 2017 to 2023 was +49%, while the value decreased by -33% from 2012 to 2017. The most significant increase occurred from 2007 to 2012, with a rise of +525%. The guideline value has not been recorded for any other years for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Alagammal Nagar 1st Street's 2024 guideline value above this median.

• Alagammal Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Alagammal Nagar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alagammal Nagar 1st Street?

The Sub Registrar Office that covers Alagammal Nagar 1st Street is 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 Nerkundram

The guideline value plays a crucial role in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the local regulations.

When registering a property, the guideline value serves as a benchmark for calculating the fees. It is essential to refer to the current guideline value to accurately assess the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Alagammal Nagar 1st Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 270 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +919% over the years.

What is the classification of Alagammal Nagar 1st Street?

Alagammal Nagar 1st Street is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How can I calculate the stamp duty and registration fee?

You can calculate the stamp duty and registration fee using the stamp duty and registration fee calculator available online.