Guideline Value for Alagesan Nagar

Alagesan Nagar guideline value

The current guideline value of Alagesan Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Alagesan Nagar has changed

In the 2007 revision, the guideline value was set at Rs 75 per sq.ft. This saw a significant increase in the 2012 revision, where it rose to Rs 650 per sq.ft, marking a growth of 767%. However, in the 2017 revision, the value decreased to Rs 435 per sq.ft, a decline of 33%. The guideline value then increased to Rs 650 per sq.ft in 2023, followed by a further rise to Rs 720 per sq.ft in the 2024 revision, which is an increase of 11%. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 860%. The changes reflect a fluctuating trend in the guideline value over the years, with the most recent revision indicating a positive adjustment.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Alagesan Nagar is below this median.

• Ambedkar Nagar: Rs 990 per sq.ft (2024)
• Anjugam Nagar: Rs 990 per sq.ft (2024)
• Balaji Nagar: Rs 990 per sq.ft (2024)
• Devendira Nagar: Rs 990 per sq.ft (2024)
• Devendra Nagar: Rs 990 per sq.ft (2024)
• Devendra Nagar Extension: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Alagesan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 720 per sq.ft, the guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, bringing the total to Rs 64,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alagesan Nagar?

The Sub Registrar Office that covers Alagesan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects a fair value for the property based on the current market conditions.

Frequently asked questions

What is the current guideline value of Alagesan Nagar?

The current guideline value of Alagesan Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 75 per sq.ft in 2007, Rs 650 in 2012, Rs 435 in 2017, Rs 650 in 2023, and Rs 720 in 2024. Overall, there has been an increase of 860% from 2007 to 2024.

What is the land classification for Alagesan Nagar?

Alagesan Nagar is classified as Residential Class III Type - I according to the land classification norms.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Alagesan Nagar is charged at 7% of the higher of the guideline value or the sale price. Registration fees are charged at 2% of the same value.

Where can I find the Sub Registrar Office for Alagesan Nagar?

The Sub Registrar Office for Alagesan Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.