Guideline Value for Azhagappa Nagar Aringnar Anna Street

Azhagappa Nagar Aringnar Anna Street guideline value

The current guideline value of Azhagappa Nagar Aringnar Anna Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Azhagappa Nagar Aringnar Anna Street has changed

Over the years, the guideline value of Azhagappa Nagar Aringnar Anna Street has seen several revisions. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 3,015 per sq.ft. The next revision in 2017 increased the value significantly by 49% to Rs 4,500 per sq.ft, while the 2023 revision further raised it to Rs 4,500 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Azhagappa Nagar Aringnar Anna Street's 2024 figure above that median.

• Azhagappa Nagar Anna University: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar/Padmavathi Nagar Extn (Anna University): Rs 3,850 per sq.ft (2024)
• Azhagappa Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagappa Nagar Aringnar Anna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagappa Nagar Aringnar Anna Street?

The Azhagappa Nagar Aringnar Anna Street falls under 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 Velachery

The guideline value is a critical factor during property registration in Velachery. It is used to determine the stamp duty and registration fees payable when a property is bought or sold, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark for calculating the financial obligations associated with the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Azhagappa Nagar Aringnar Anna Street?

The current guideline value for Azhagappa Nagar Aringnar Anna Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024, marking a 10% increase. It was Rs 3,015 per sq.ft in 2017, which increased to Rs 4,500 per sq.ft in 2023.

What is the land classification for Azhagappa Nagar Aringnar Anna Street?

Azhagappa Nagar Aringnar Anna Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Azhagappa Nagar Aringnar Anna Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,46,500.