Guideline Value for Alagappa first Street

Alagappa first Street guideline value

The current guideline value of Alagappa first Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class I Type - II.

How the guideline value of Alagappa first Street has changed

The guideline value of Alagappa first Street has seen significant changes over the years. In 2002, the guideline value was Rs 775 per sq.ft. It increased to Rs 1,200 per sq.ft in 2007, marking a substantial rise of 55%. The value then saw a remarkable increase to Rs 10,000 per sq.ft in 2012, which represented a 733% jump. However, between 2012 and 2017, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. From 2017 to 2023, the guideline value increased significantly to Rs 10,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 11,000 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for Alagappa first Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1319%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Alagappa first Street's 2024 guideline value of Rs 11,000 per sq.ft is above this median.

• Alagappa Salai: Rs 13,400 per sq.ft (2024)
• Agasthiyar Nagar: Rs 10,100 per sq.ft (2024)
• Abdul sukkur street: Rs 4,400 per sq.ft (2024)
• Abdul HussianStreet: Rs 4,400 per sq.ft (2024)
• Andiappa Gramani Street: Rs 7,100 per sq.ft (2024)
• Appa Garden Salai: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Alagappa first Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000, bringing the total cost for these fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alagappa first Street?

The Sub Registrar Office that covers Alagappa first Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Alagappa first Street?

The current guideline value of Alagappa first Street is Rs 11,000 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 775 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 1319% over this period.

What are the stamp duty and registration fees for property in Alagappa first Street?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which Sub Registrar Office covers Alagappa first Street?

The Periamet Sub Registrar Office covers Alagappa first Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Alagappa first Street?

Alagappa first Street is classified as Residential Class I Type - II, indicating its designation for residential purposes within the area.