Guideline Value for Azhagar Road

Azhagar Road guideline value

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

How the guideline value of Azhagar Road has changed

The guideline value for Azhagar Road has seen several revisions over the years. Starting from Rs 168 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007. The value then rose drastically to Rs 3,000 per sq.ft in 2012, but saw a decrease to Rs 2,010 per sq.ft in 2017. Following this, the value surged to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1864%. It is important to note that the register has no figure for Azhagar Road for the year 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value for Azhagar Road.

• Azhagappa Nagar: 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 Azhagar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagar Road?

The Sub Registrar Office that covers Azhagar Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 plays a crucial role during the registration of property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must ensure that these fees are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value helps in ensuring that the transaction is recorded at a value that reflects the current market conditions as per the official register. This process is essential for maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Azhagar Road?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 168 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Azhagar Road?

Azhagar Road is classified as Residential Class I Type - II under the current regulations.

Where is the Sub Registrar Office located?

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

How is stamp duty calculated for properties on Azhagar Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000 based on the current guideline value.