Guideline Value for Alagammal Nagar 6th Street

Alagammal Nagar 6th Street guideline value

The current guideline value of Alagammal Nagar 6th 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Alagammal Nagar 6th Street has changed

The guideline value for Alagammal Nagar 6th 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 2003. This figure remained unchanged until the 2007 revision, which saw a significant rise to Rs 400 per sq.ft. In 2012, the value increased to Rs 2,500 per sq.ft, but then dropped to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and finally, in 2024, it reached Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 919%. The changes between revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a remarkable 525% increase from 2007 to 2012. There are no figures available for this street in the years not mentioned.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Alagammal Nagar 6th Street above this median value.

• Alagammal Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Alagammal Nagar 6th 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, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Alagammal Nagar 6th Street?

The Sub Registrar Office that covers Alagammal Nagar 6th 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 is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alagammal Nagar 6th Street?

The current guideline value of Alagammal Nagar 6th 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 significantly, increasing from Rs 270 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 919% over this period.

What are the other streets in Nerkundram with the same guideline value?

Several other streets in Nerkundram also have a guideline value of Rs 2,750 per sq.ft as of 2024, including Alagammal Nagar 5th, 7th, 4th, 8th, 3rd, and 2nd Streets.

What are the stamp duty and registration fees for properties in Alagammal Nagar 6th Street?

The stamp duty for properties in Alagammal Nagar 6th Street is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500.

Which Sub Registrar Office covers Alagammal Nagar 6th Street?

The Virugambakkam Sub Registrar Office covers Alagammal Nagar 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.