Guideline Value for Alagesan Street

Alagesan Street guideline value

The current guideline value of Alagesan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Alagesan Street has changed

The guideline value for Alagesan Street has undergone several revisions over the years. In 2002, the value was Rs 623 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, reflecting a rise of 61%. The value then saw a significant increase to Rs 2,500 per sq.ft in 2007, marking a 150% growth. Following this, the value jumped to Rs 6,000 per sq.ft in 2012, an increase of 140%. However, in 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently, it has reached Rs 6,600 per sq.ft in 2024, showing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 959%. There are no figures available for the revisions in years other than those listed above for Alagesan Street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making Alagesan Street's 2024 figure of Rs 6,600 per sq.ft significantly above the median.

• Alamelupuram: Rs 3,300 per sq.ft (2024)
• Albin Nagar: Rs 2,200 per sq.ft (2024)
• Amal Nagar: Rs 2,200 per sq.ft (2024)
• Ambal Nagar: Rs 2,200 per sq.ft (2024)
• Ambedhkar Street: Rs 2,200 per sq.ft (2024)
• Abdul Razak Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Alagesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 precise calculations based on your specific property details.

Which Sub Registrar Office covers Alagesan Street?

The Sub Registrar Office that covers Alagesan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Tambaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for all property sales. Buyers and sellers must ensure that the transaction adheres to these values to comply with local regulations.

When a property is sold, the guideline value is used to determine the minimum value for taxation purposes. This means that even if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the state collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alagesan Street?

The current guideline value of Alagesan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 623 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing a significant overall increase of 959% over the years.

What is the classification of Alagesan Street?

Alagesan Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Alagesan Street?

Stamp duty for properties in Alagesan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 5,94,000.