Guideline Value for Azhagamman Nagar

Azhagamman Nagar guideline value

The current guideline value of Azhagamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Azhagamman Nagar has changed

The guideline value for Azhagamman Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Azhagamman Nagar is below this median.

• Ayyappa Nagar Lake View Street 14th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Lake View Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar/Lake View Road: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Lake View 4th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar/Lake View 14th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Extn Sannathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Azhagamman Nagar?

The Sub Registrar Office covering Azhagamman Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Azhagamman Nagar?

The current guideline value of Azhagamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty rates in Azhagamman Nagar?

The stamp duty rate for property transactions in Azhagamman Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, while Azhagamman Nagar's guideline value is below this median at Rs 1,650 per sq.ft.