Guideline Value for Azarkahana Street

Azarkahana Street guideline value

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

How the guideline value of Azarkahana Street has changed

The guideline value for Azarkahana Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The 2023 revision set the value at Rs 3,000 per sq.ft, which was then increased by 10% to the current rate of Rs 3,300 per sq.ft in 2024.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. It is important to note that the register has no figures for Azarkahana Street for the years 2002 and 2003.

Guideline values in Parangimalai

In Parangimalai, 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. The median value for these streets is Rs 3,850 per sq.ft, placing Azarkahana Street's 2024 figure below this median.

• Azarkahana Cross Street: Rs 3,300 per sq.ft (2024)
• Azarkahana 1st Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azarkahana Street?

The Sub Registrar Office that covers Azarkahana 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is officially recognized by the authorities.

When registering a property, buyers and sellers must consider the guideline value to calculate applicable stamp duty and registration fees. This ensures that all financial obligations are met as per the regulations set by the government.

Frequently asked questions

What is the current guideline value of Azarkahana Street?

The current guideline value of Azarkahana 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 increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the median guideline value for streets in Parangimalai?

The median guideline value for streets in Parangimalai is Rs 3,850 per sq.ft, with Azarkahana Street's current value being below this median.

What are the stamp duty and registration fees for properties?

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 is the Sub Registrar Office for Azarkahana Street located?

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