Guideline Value for Alwarthiru Nagar Annexe School View Street

Alwarthiru Nagar Annexe School View Street guideline value

The current guideline value of Alwarthiru Nagar Annexe School View Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Alwarthiru Nagar Annexe School View Street has changed

The guideline value for Alwarthiru Nagar Annexe School View Street has undergone several revisions over the years. The earliest recorded value was Rs 1,100 per sq.ft in 2007, which saw a significant increase to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent revision in 2024 increased it to Rs 5,500 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The overall change from 2007 to 2024 reflects a substantial increase of 400%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value among these streets is Rs 4,400 per sq.ft, placing Alwarthiru Nagar Annexe School View Street above this median.

• Ambethkar Street - Chimtenkulam: Rs 4,400 per sq.ft (2024)
• Abusali Street - Virugambakkam: Rs 7,150 per sq.ft (2024)
• Abirami Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Abirami Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Anna Colony: Rs 4,400 per sq.ft (2024)
• Annaji Rao Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Alwarthiru Nagar Annexe School View Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alwarthiru Nagar Annexe School View Street?

The Sub Registrar Office covering Alwarthiru Nagar Annexe School View Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

During the registration process, the guideline value helps establish a legal framework for property transactions, providing transparency and consistency in the valuation of real estate within the region.

Frequently asked questions

What is the current guideline value of Alwarthiru Nagar Annexe School View Street?

The current guideline value of Alwarthiru Nagar Annexe School View Street is Rs 5,500 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 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 400% over this period.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Alwarthiru Nagar Annexe School View Street?

The Virugambakkam Sub Registrar Office handles property registrations for Alwarthiru Nagar Annexe School View Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for this street?

Alwarthiru Nagar Annexe School View Street is classified as Residential Class II Type - I, indicating its suitability for residential development.