Guideline Value for Azath Street

Azath Street guideline value

The current guideline value of Azath Street in Sembiam village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Azath Street has changed

The guideline value for Azath Street has undergone several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, this value saw a decline of 33% to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value rose by 49% to Rs 2,500 per sq.ft in the 2023 revision, and further increased by 8% to the current value of Rs 2,700 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for Azath Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Sembiam

In Sembiam, there are a total of 250 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Azath Street.

• Ayyavu Grammi Street: Rs 2,700 per sq.ft (2024)
• Badham Street: Rs 2,700 per sq.ft (2024)
• Bajanai Koil street: Rs 2,700 per sq.ft (2024)
• Ashok Street: Rs 2,700 per sq.ft (2024)
• Balaji street: Rs 2,700 per sq.ft (2024)
• Appulinga Vathiyar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Azath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Azath Street?

Azath Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is officially recognized and documented.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory expenses incurred during the transfer of ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Azath Street?

The current guideline value of Azath Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the land classification for Azath Street?

Azath Street is classified under Residential Class I Type - I land classification.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Azath Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.