Guideline Value for Alagammal Nagar 7th Street

Alagammal Nagar 7th Street guideline value

The current guideline value of Alagammal Nagar 7th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Alagammal Nagar 7th Street has changed

The guideline value for Alagammal Nagar 7th Street has undergone several revisions over the years. The register shows that in 2002, the value was Rs 270 per sq.ft, which increased to Rs 400 per sq.ft in both 2003 and 2007. In 2012, the value rose to Rs 2,500 per sq.ft, but then dropped to Rs 1,675 per sq.ft in 2017. The value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in years not mentioned.

From 2017 to 2023, there was a 49% increase, followed by a 10% increase from 2023 to 2024. The most significant change occurred between 2007 and 2012, where the value increased by 525%. Overall, from 2002 to 2024, the guideline value has increased by 919%.

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 guideline value in this area is Rs 2,200 per sq.ft, placing Alagammal Nagar 7th Street above this median at Rs 2,750 per sq.ft.

• Alagammal Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Alagammal Nagar 4th 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 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alagammal Nagar 7th Street?

The Sub Registrar Office that covers Alagammal Nagar 7th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the official worth of the property, providing a reference point for negotiations. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Alagammal Nagar 7th Street?

The current guideline value of Alagammal Nagar 7th 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, from Rs 270 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 919% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at 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 is responsible for Alagammal Nagar 7th Street?

The Virugambakkam Sub Registrar Office is responsible for Alagammal Nagar 7th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Alagammal Nagar 7th Street?

The land classification for Alagammal Nagar 7th Street is Residential Class III Type - I, indicating its designation for residential use.