Guideline Value for Alagesa Nagar

Alagesa Nagar guideline value

The current guideline value of Alagesa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Chengalpattu Town village, under the Chengleput Joint I SRO, and is classified as Commercial Special Type - I.

How the guideline value of Alagesa Nagar has changed

The guideline value for Alagesa Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 501 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 599%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 668%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,025 per sq.ft, placing Alagesa Nagar's 2024 figure above this median.

• Anna Nagar: Rs 3,850 per sq.ft (2024)
• Anna Salai: Rs 3,520 per sq.ft (2024)
• Anumanthaputheri Adhilakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Anumanthaputheri Madurai Veeran Koil Street: Rs 2,420 per sq.ft (2024)
• Anumanthaputheri Nadu Street: Rs 1,650 per sq.ft (2024)
• Anumanthaputheri Pillaiyar Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Alagesa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers Alagesa Nagar?

The Sub Registrar Office that covers Alagesa Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chengalpattu Town. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the sale. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Alagesa Nagar?

The current guideline value of Alagesa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 501 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 668% over this period.

What are the stamp duty rates for property in Alagesa Nagar?

The stamp duty for property in Alagesa Nagar is 7% of the guideline value, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Alagesa Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations in Alagesa Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in various areas.