Guideline Value for Alapakkam Main Road (Poonamalle High Road To Arcot Road)

Alapakkam Main Road (Poonamalle High Road To Arcot Road) guideline value

The current guideline value of Alapakkam Main Road (Poonamalle High Road To Arcot Road) is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Alapakkam Main Road (Poonamalle High Road To Arcot Road) has changed

The guideline value for Alapakkam Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 364 per sq.ft. This increased to Rs 399 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 1,100 per sq.ft in 2007, which represents a 176% change. Following this, the 2012 revision set the value at Rs 5,000 per sq.ft, reflecting a substantial 355% increase from the previous figure. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017, which was a 33% drop.

In 2023, the guideline value was revised to Rs 5,000 per sq.ft, and then it rose again to Rs 5,500 per sq.ft in 2024, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1411%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Alapakkam Main Road is above this median.

• Alapakkam Gangaiamman Koil Street: Rs 3,850 per sq.ft (2024)
• Alapakkam Perumal Koil Street: Rs 2,750 per sq.ft (2024)
• Abirami Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Alapakkam Main Road (Poonamalle High Road To Arcot Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alapakkam Main Road (Poonamalle High Road To Arcot Road)?

The Sub Registrar Office that covers Alapakkam Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Alapakkam Main Road?

The current guideline value of Alapakkam Main Road (Poonamalle High Road To Arcot Road) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 364 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1411% over this period.

What is the land classification for Alapakkam Main Road?

The land classification for Alapakkam Main Road is Mixed Special Type - I, which indicates the type of development permissible in this area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees can amount to Rs 4,95,000.

Where is the Sub Registrar Office located for Alapakkam Main Road?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it handles registrations for properties in Alapakkam Main Road.