Guideline Value for Azhagar Perumal 2nd Lane

Azhagar Perumal 2nd Lane guideline value

The current guideline value of Azhagar Perumal 2nd Lane is Rs 4,900 per sq.ft. This lane 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 2nd Lane has changed

Since its last revision, the guideline value for Azhagar Perumal 2nd Lane has seen several changes. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, this value dropped to Rs 3,015 per sq.ft in 2017, before rising to Rs 4,500 per sq.ft again in 2023. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft.

Looking at the changes, from 2007 to 2012, the value increased by 272%. However, it saw a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally increased by 9% from 2023 to 2024. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the guideline value of Azhagar Perumal 2nd Lane.

• Azhagar Perumal 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagar Perumal 2nd Lane?

The Azhagar Perumal 2nd Lane falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and serves as a benchmark for property transactions, ensuring that the correct amount of duty is collected during registration.

It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value reflects the minimum value at which a property can be registered, and it is essential for both parties to understand its implications in their transactions.

Frequently asked questions

What is the current guideline value of Azhagar Perumal 2nd Lane?

The current guideline value of Azhagar Perumal 2nd 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 significantly over the years, with an increase from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305%.

What is the land classification of Azhagar Perumal 2nd Lane?

Azhagar Perumal 2nd Lane is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

What is the registration office for Azhagar Perumal 2nd Lane?

The registration office for Azhagar Perumal 2nd Lane is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Azhagar Perumal 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%, plus a registration fee of Rs 98,000 at 2%.