Guideline Value for Azhagappa Nagar

Azhagappa Nagar guideline value

The current guideline value of Azhagappa Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - II land classification.

How the guideline value of Azhagappa Nagar has changed

The guideline value for Azhagappa Nagar has undergone several revisions over the years. In the 2003 revision, the value was Rs 102 per sq.ft, which saw a significant increase to Rs 600 per sq.ft in 2007. The 2012 revision brought the value up to Rs 3,000 per sq.ft, but it then decreased to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the guideline value to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%. The rise from 2007 to 2012 was substantial at 400%, while the increase from 2003 to 2007 was an impressive 488%. Overall, from 2003 to 2024, the guideline value has increased by 3135%. The register has no figure for Azhagappa Nagar in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Azhagappa Nagar.

• Azhagar Road: Rs 3,300 per sq.ft (2024)
• Bajanai Koil 1st Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Back Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Harijan Colony: Rs 2,750 per sq.ft (2024)
• Balaji Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 more detailed calculations.

Which Sub Registrar Office covers Azhagappa Nagar?

The Sub Registrar Office that covers Azhagappa Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is essential when registering a property in Zaminpallavaram, as it determines the minimum price at which a property can be sold or purchased. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally recognized and properly documented.

When buying or selling property, it is crucial to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Azhagappa Nagar?

The current guideline value of Azhagappa Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 102 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 3135%.

What is the land classification for Azhagappa Nagar?

Azhagappa Nagar is classified as Residential Class I Type - II land.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.