Guideline Value for Azarkahana Cross Street

Azarkahana Cross Street guideline value

The current guideline value of Azarkahana Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Azarkahana Cross Street has changed

Over the years, the guideline value for Azarkahana Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision increased it back to Rs 3,000 per sq.ft, and the latest 2024 revision has further raised it to Rs 3,300 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. Azarkahana Cross Street's 2024 figure of Rs 3,300 per sq.ft is below this median.

• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)
• Azarkahana Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Lane: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bajar Line Lane: Rs 2,750 per sq.ft (2024)
• Ashokan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Azarkahana Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Azarkahana Cross Street?

The Sub Registrar Office that covers Azarkahana Cross Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

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

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal complications during registration.

Frequently asked questions

What is the current guideline value of Azarkahana Cross Street?

The current guideline value of Azarkahana Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the latest increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. The value was as low as Rs 2,010 per sq.ft in 2017.

What is the land classification for Azarkahana Cross Street?

The land classification for Azarkahana Cross Street is Residential Class II Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties in Azarkahana Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Azarkahana Cross Street?

The Sub Registrar Office for Azarkahana Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.