Guideline Value for Alapakkam Road

Alapakkam Road guideline value

The current guideline value of Alapakkam Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Alapakkam Road has changed

The guideline value for Alapakkam Road has undergone several revisions over the years. The oldest recorded revision was in 2007, where the guideline value was Rs 1,100 per sq.ft. This figure increased significantly in the 2012 revision to Rs 4,000 per sq.ft, marking a substantial increase of 264%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The most recent revision in 2024 shows a notable increase to Rs 4,400 per sq.ft, reflecting an overall increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 300%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Alapakkam Road's 2024 figure above the median.

• A.K.R.Nagar Main Street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 9th Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 8th Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 7th Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 6th Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 5th Cross street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Alapakkam Road

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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alapakkam Road?

The Sub Registrar Office that covers Alapakkam 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 Valasaravakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alapakkam Road?

The current guideline value of Alapakkam Road 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 significantly, from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 300% over the years.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Alapakkam Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Alapakkam Road?

The Virugambakkam Sub Registrar Office, which covers Alapakkam Road, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, with Alapakkam Road's current value being above this median.