Guideline Value for Azhagar Perumal 1st Lane

Azhagar Perumal 1st Lane guideline value

The current guideline value of Azhagar Perumal 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Azhagar Perumal 1st Lane has changed

The guideline value for Azhagar Perumal 1st Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The 2017 revision then raised it to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has further increased the guideline value to Rs 4,900 per sq.ft, which is a 9% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which is the same as the current value for Azhagar Perumal 1st Lane.

• Azhagar Perumal 2nd Lane: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Koil 2nd Street: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Koil Cross Street Block 2, T.S.No.1 to 9: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Koil Street Block 1, T.S.No.1 to 11: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Street: Rs 4,900 per sq.ft (2024)
• Ayyavu Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagar Perumal 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagar Perumal 1st Lane?

The Azhagar Perumal 1st Lane is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It serves as a benchmark for the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. This ensures that the property is officially recognized and legally documented, protecting the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Azhagar Perumal 1st Lane?

The current guideline value of Azhagar Perumal 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305% over the years.

What is the stamp duty for property in Azhagar Perumal 1st Lane?

The stamp duty for property in Azhagar Perumal 1st Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Azhagar Perumal 1st Lane?

Azhagar Perumal 1st Lane is classified as Residential Class III Type - II, indicating its designation for residential purposes.