Guideline Value for Azhagar Street

Azhagar Street guideline value

The current guideline value of Azhagar Street in Madambakkam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Azhagar Street has changed

The guideline value for Azhagar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no registered figures for Azhagar Street in the years 2002, 2003, and 2007. Thus, the revisions noted above are the only available figures for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, which means Azhagar Street's 2024 figure is below that median.

• Bai Garden: Rs 1,900 per sq.ft (2024)
• Bai Garden 1st Street: Rs 2,750 per sq.ft (2024)
• Bai Garden 1st Street / Avenue: Rs 1,900 per sq.ft (2024)
• Bai Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Bai Garden 3rd Street: Rs 1,900 per sq.ft (2024)
• Bai Garden Link Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Azhagar Street?

The Sub Registrar Office that covers Azhagar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Understanding these values helps ensure that all parties are informed and comply with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Azhagar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Azhagar Street?

Azhagar Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Azhagar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000.