Guideline Value for Alex Nagar

Alex Nagar guideline value

The current guideline value of Alex Nagar, Tharapakkam village, under the Pammal SRO is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Alex Nagar has changed

The guideline value for Alex Nagar has seen several revisions over the years. Starting from the 2017 revision, the value was Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is the same as the current value for Alex Nagar.

• Ambethkar Street (ward 2): Rs 1,100 per sq.ft (2024)
• Ambethkar Street (ward 3): Rs 1,100 per sq.ft (2024)
• Ambethkar Street (ward 4): Rs 1,100 per sq.ft (2024)
• Amman Koil Street (ward 5): Rs 990 per sq.ft (2024)
• Amman Koil Street (ward 7): Rs 990 per sq.ft (2024)
• Abhirudhi Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Alex Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Alex Nagar?

The Sub Registrar Office that covers Alex Nagar 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 Tharapakkam

The guideline value is a crucial factor in the registration process of property transactions in Tharapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Alex Nagar?

The current guideline value of Alex Nagar is Rs 1,100 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 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification of Alex Nagar?

Alex Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated in Alex Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000.