Guideline Value for Azhagammal Lane

Azhagammal Lane guideline value

The current guideline value of Azhagammal Lane, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Azhagammal Lane has changed

Over the years, the guideline value of Azhagammal Lane has seen several revisions. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 100% increase. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, representing a decline of 33%. The value then rose substantially to Rs 1,200 per sq.ft in 2023, and most recently, it has been revised to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

The register has no figure for Azhagammal Lane in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Azhagammal Lane's 2024 guideline value is below this median.

• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Avoor Muthiah Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar Cross street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagammal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for duty and registration to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagammal Lane?

The Sub Registrar Office that covers Azhagammal Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tondaiarpet, as it determines the minimum value on which stamp duty and registration fees are calculated. This ensures that transactions are recorded at a standardized value set by the government, which helps in maintaining transparency in property dealings.

When you register a property, the guideline value serves as a reference point. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Azhagammal Lane?

The current guideline value of Azhagammal Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What is the land classification of Azhagammal Lane?

Azhagammal Lane is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Azhagammal Lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Azhagammal Lane?

The Royapuram Sub Registrar Office handles the registration for Azhagammal Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.