Guideline Value for Alex Street

Alex Street guideline value

The current guideline value of Alex Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Alex Street has changed

Over the years, the guideline value of Alex Street has experienced several revisions. The earliest recorded figure is from 2002, which was Rs 172 per sq.ft. This value increased significantly to Rs 193 per sq.ft in 2003, marking a 12% rise. The following revisions saw substantial changes, with the value jumping to Rs 1,000 per sq.ft in 2007, a remarkable increase of 418%. In 2012, the value was revised to Rs 2,000 per sq.ft, reflecting a 100% increase from the previous figure. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The next revision in 2023 brought the value back up to Rs 2,000 per sq.ft, and finally, the current value is Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for Alex Street in the revisions for the years not listed in the register. Overall, from 2002 to 2024, the guideline value has increased by 1179%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of Alex Street is below this median.

• Ambethkar Cross Street: Rs 2,200 per sq.ft (2024)
• Ambethkar Street: Rs 2,200 per sq.ft (2024)
• Amman Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Amman Nagar Main: Rs 2,800 per sq.ft (2024)
• Abraham street: Rs 3,900 per sq.ft (2024)
• Annamalai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Alex Street

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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Alex Street?

The Sub Registrar Office covering Alex Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Alex Street?

The current guideline value of Alex Street is Rs 2,200 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 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1179%.

What is the land classification of Alex Street?

Alex Street falls under the Residential Class II Type - II land classification.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Alex Street located?

The Alandur Sub Registrar Office, which covers Alex Street, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.