Guideline Value for Alikan Street

Alikan Street guideline value

The current guideline value of Alikan Street in Alandur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Alikan Street has changed

The guideline value for Alikan Street has seen significant changes over the years. In 2002, the guideline value was Rs 245 per sq.ft. This figure increased to Rs 266 per sq.ft in 2003, marking a 9% rise. The value then surged to Rs 1,000 per sq.ft in 2007, reflecting a substantial increase of 276%. Following this, in 2012, the value dropped to Rs 4,000 per sq.ft, a decrease of 33%. The 2017 revision set the value at Rs 2,680 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2023 raised the value to Rs 4,000 per sq.ft, before reaching the current rate of Rs 4,400 per sq.ft in 2024, indicating a 10% increase.

There are no figures available for the revisions in the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 1696%.

Guideline values in Alandur

Alandur village has a range of guideline values for its 40 streets under the Alandur SRO, with figures for 2024 ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median guideline value in the area is Rs 5,000 per sq.ft, placing Alikan Street's 2024 figure below this median.

• Appavu Street: Rs 4,400 per sq.ft (2024)
• Asarkana Street*: Rs 4,400 per sq.ft (2024)
• Bramin Street: Rs 5,000 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 5,000 per sq.ft (2024)
• Eashwaran Koil Street: Rs 5,000 per sq.ft (2024)
• Gandhi Market commer: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Alikan Street

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 fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Alikan Street?

The Sub Registrar Office that covers Alikan 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 Alandur

The guideline value is a crucial factor in property transactions in Alandur. It serves as a benchmark for determining the minimum value of a property, which is used during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Alikan Street?

The current guideline value of Alikan Street 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 increased significantly from Rs 245 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1696% over this period.

What are the stamp duty rates for properties on Alikan Street?

The stamp duty rate for properties in Alikan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Alikan Street located?

The Sub Registrar Office for Alikan Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value for streets in Alandur?

The median guideline value for streets in Alandur is Rs 5,000 per sq.ft, with Alikan Street's current value being below this median.