Guideline Value for Alagiri Street

Alagiri Street guideline value

The current guideline value of Alagiri Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Alagiri Street has changed

The guideline value for Alagiri Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, representing a 49% increase, and has now reached Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that the register has no figures for Alagiri Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Alagiri Street's 2024 guideline value of Rs 3,300 per sq.ft is below this median.

• Alagirisamy Salai: Rs 7,700 per sq.ft (2024)
• Alayamaistry Street: Rs 3,300 per sq.ft (2024)
• Ambal Nagar: Rs 4,100 per sq.ft (2024)
• Ambedkar Salai: Rs 8,800 per sq.ft (2024)
• Adhikesavan Street: Rs 4,100 per sq.ft (2024)
• Adhikesavanpillai Street Block 38: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Alagiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Alagiri Street?

The Sub Registrar Office that covers Alagiri Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Kodambakkam. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is assessed to determine the applicable taxes. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official valuation of the property in question.

Frequently asked questions

What is the current guideline value of Alagiri Street?

The current guideline value of Alagiri Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Alagiri Street?

Alagiri Street is classified as Residential Class IV Type - II under the guideline value register.

Where is the Sub Registrar Office for Alagiri Street located?

The Sub Registrar Office for Alagiri Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for property in Alagiri Street?

The stamp duty for property in Alagiri Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a plot of 1,000 sq.ft at the current rate would incur a stamp duty of Rs 2,31,000.