Guideline Value for Alayam Phase - III

Alayam Phase - III guideline value

The current guideline value of Alayam Phase - III, located in Thandalam village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Alayam Phase - III has changed

The guideline value for Alayam Phase - III has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This was followed by a significant increase in the 2023 revision, which raised the value to Rs 2,000 per sq.ft, marking a 49% increase from the previous revision. The most recent revision in 2024 further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% rise from 2023.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, placing Alayam Phase - III's 2024 figure above the median.

• Ambal Nagar: Rs 1,210 per sq.ft (2024)
• Ambal Nagar ManiMedu: Rs 1,210 per sq.ft (2024)
• Akash Nagar Thodarchi: Rs 1,210 per sq.ft (2024)
• Akash Nagar II: Rs 1,210 per sq.ft (2024)
• Akash Nagar I: Rs 1,210 per sq.ft (2024)
• Akash Nagar Aennex: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Alayam Phase - III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alayam Phase - III?

The Sub Registrar Office that covers Alayam Phase - III is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thandalam

The guideline value is a crucial factor in the registration process when buying or selling property in Thandalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Alayam Phase - III?

The current guideline value for Alayam Phase - III is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Alayam Phase - III?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Alayam Phase - III?

The Pammal Sub Registrar Office is responsible for Alayam Phase - III, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Alayam Phase - III?

The land classification for Alayam Phase - III is Mixed Type - II, indicating the type of land use permitted in this area.