Guideline Value for Azhagappa Nagar Main Road

Azhagappa Nagar Main Road guideline value

The current guideline value of Azhagappa Nagar Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Azhagappa Nagar Main Road has changed

The guideline value for Azhagappa Nagar Main Road has seen several revisions over the years. The 2012 revision set the guideline value at Rs 4,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 3,015 per sq.ft. In 2023, the value increased to Rs 4,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 4,950 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 represents a 10% increase. 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning Azhagappa Nagar Main Road above this median.

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

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 to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Azhagappa Nagar Main Road?

The Sub Registrar Office that covers Azhagappa Nagar Main Road 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 information.

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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for both buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of a property transaction. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Azhagappa Nagar Main Road?

The current guideline value of Azhagappa Nagar Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Azhagappa Nagar Main Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 4,45,500.

Which Sub Registrar Office covers Azhagappa Nagar Main Road?

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

What is the land classification for Azhagappa Nagar Main Road?

The land classification for Azhagappa Nagar Main Road is Residential Class II Type - I, indicating its suitability for residential development.