Guideline Value for Alagiri Street

Alagiri Street guideline value

The current guideline value of Alagiri Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Alagiri Street has changed

The guideline value for Alagiri Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The latest revision in 2024 shows a substantial increase of 61% from the 2017 figure, bringing the guideline value to Rs 2,700 per sq.ft.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for Alagiri Street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making Alagiri Street's 2024 figure below this median.

• Akbar Square 4th Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 3rd Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 2nd Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 1st Street: Rs 2,700 per sq.ft (2024)
• Ambedkar 1st Street: Rs 2,700 per sq.ft (2024)
• Ambedkar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Alagiri Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Alagiri Street?

The Sub Registrar Office that covers Alagiri Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it can affect the total costs involved in the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in Kolathur.

Frequently asked questions

What is the current guideline value of Alagiri Street?

The current guideline value of Alagiri Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 170% over these years.

What is the land classification for Alagiri Street?

Alagiri Street is classified as Residential Class II Type - I under the Sembiam SRO.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Alagiri Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.