Guideline Value for Azhagar Perumal Street,

Azhagar Perumal Street, guideline value

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

How the guideline value of Azhagar Perumal Street has changed

The guideline value for Azhagar Perumal Street has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision saw a rise to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 305%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Kodambakkam

In Kodambakkam, there are 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 value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Azhagar Perumal Street.

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

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Azhagar Perumal Street?

The Sub Registrar Office that covers Azhagar Perumal Street is 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers must be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used to calculate stamp duty and registration fees.

When selling a property, the guideline value helps ensure that the transaction is transparent and fair. It provides a baseline for both buyers and sellers to understand the value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Azhagar Perumal Street?

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,41,000.

Which Sub Registrar Office covers Azhagar Perumal Street?

The Ashok Nagar Sub Registrar Office covers Azhagar Perumal Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Azhagar Perumal Street?

Azhagar Perumal Street is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.