Guideline Value for Alamelupuram

Alamelupuram guideline value

The current guideline value of Alamelupuram is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Alamelupuram has changed

The guideline value for Alamelupuram has seen significant changes over the years. In 2002, the guideline value was Rs 143 per sq.ft. This figure increased to Rs 350 per sq.ft in 2003, marking a rise of 145%. The value continued to grow, reaching Rs 400 per sq.ft in 2007, which represented a 14% increase. A substantial jump occurred in 2012, where the guideline value rose to Rs 3,000 per sq.ft, reflecting a 650% increase from the previous revision. However, this value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,000 per sq.ft, an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 2208%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value of these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Alamelupuram.

• Alagesan Street: Rs 6,600 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 Alamelupuram

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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alamelupuram?

The Sub Registrar Office that covers Alamelupuram 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 plays a crucial role in the registration process when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value helps in assessing the fair amount of tax that needs to be paid, making it a vital aspect of property transactions in the area.

Frequently asked questions

What is the current guideline value of Alamelupuram?

The current guideline value of Alamelupuram 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 increased significantly from Rs 143 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 2208% over the years.

What are the stamp duty and registration fees in Alamelupuram?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Alamelupuram?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Alamelupuram, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined for property transactions?

The guideline value is determined based on various factors, including location and land classification. It is used to calculate the stamp duty and registration fees during property transactions in Tambaram.