Guideline Value for Alex Street

Alex Street guideline value

The current guideline value of Alex Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Alex Street has changed

The guideline value for Alex Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, in the following revisions, the value increased significantly. By the 2023 revision, it rose to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Alex Street.

• Alavandhar Avenue: Rs 1,650 per sq.ft (2024)
• Alavandar AvenueExt: Rs 3,850 per sq.ft (2024)
• Agaththiyar Street: Rs 1,650 per sq.ft (2024)
• Agananuru Street: Rs 1,650 per sq.ft (2024)
• Advocate Janakiraman Street: Rs 1,650 per sq.ft (2024)
• Advocate Colony Ramanaidu Cross Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alex Street?

The Sub Registrar Office that covers Alex Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is crucial during the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. The authorities use this value to ensure that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value helps in assessing the official worth of the property, which is essential for tax purposes. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Alex Street?

The current guideline value of Alex Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between.

What is the land classification of Alex Street?

Alex Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Alex Street?

The Sub Registrar Office for Alex Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property in Alex Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.