Guideline Value for Azhagappa Nagar

Azhagappa Nagar guideline value

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

How the guideline value of Azhagappa Nagar has changed

In the 2012 revision, the guideline value was set at Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 4,500 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 4,950 per sq.ft, reflecting a rise of 10% from the previous year.

The register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, positioning Azhagappa Nagar's 2024 value above this median.

• Azhagappa Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar Anna University: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar Aringnar Anna Street: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Azhagappa Nagar/Padmavathi Nagar Extn (Anna University): Rs 3,850 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 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling 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.

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

Which Sub Registrar Office covers Azhagappa Nagar?

The Sub Registrar Office that covers Azhagappa 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 Velachery

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Velachery, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it ensures compliance with legal requirements during the registration process. This value is periodically revised, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Azhagappa Nagar?

The current guideline value of Azhagappa Nagar 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, showing a 49% increase from that year to 2023.

What is the land classification of Azhagappa Nagar?

Azhagappa Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total costs can amount to Rs 4,45,500.

Where is the Sub Registrar Office for Azhagappa Nagar located?

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