Guideline Value for Alagiri Naiken Street/Alagiri Street

Alagiri Naiken Street/Alagiri Street guideline value

The current guideline value of Alagiri Naiken Street/Alagiri Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Alagiri Naiken Street/Alagiri Street has changed

The guideline value for Alagiri Naiken Street/Alagiri Street has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 4,000 per sq.ft. In 2017, this value decreased to Rs 2,680 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the guideline value increased significantly to Rs 4,000 per sq.ft, and further rose to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Notably, there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has seen a 10% increase from the 2012 figure to the current 2024 figure.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with the median value being Rs 4,400 per sq.ft. Alagiri Naiken Street/Alagiri Street's current guideline value aligns with this median.

• Chithi Vinayagar Street: Rs 3,900 per sq.ft (2024)
• James Street: Rs 2,800 per sq.ft (2024)
• Madhurai Naiken Street (Madurai Street): Rs 4,400 per sq.ft (2024)
• Margo Lane (Margoss Lane): Rs 2,800 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Alagiri Naiken Street/Alagiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Alagiri Naiken Street/Alagiri Street?

The Alagiri Naiken Street/Alagiri Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Paruthivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Alagiri Naiken Street/Alagiri Street?

The current guideline value of Alagiri Naiken Street/Alagiri Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Alagiri Naiken Street/Alagiri Street?

Alagiri Naiken Street/Alagiri Street is classified as Residential Class I Type - I.

Which Sub Registrar Office covers Alagiri Naiken Street/Alagiri Street?

The Alandur Sub Registrar Office covers Alagiri Naiken Street/Alagiri Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Alagiri Naiken Street/Alagiri Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.