Guideline Value for Azhagiri 1st Street

Azhagiri 1st Street guideline value

The current guideline value of Azhagiri 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Azhagiri 1st Street has changed

The guideline value for Azhagiri 1st Street has seen several revisions over the years. The oldest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 3,850 per sq.ft.

Between the revisions, there have been notable changes. The increase from 2023 to 2024 is 10%. The jump from 2017 to 2023 represents a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is the same as the current value for Azhagiri 1st Street.

• Azhagiri 2nd Street: Rs 3,850 per sq.ft (2024)
• Azhagiri 3rd Street: Rs 3,850 per sq.ft (2024)
• Azhagiri Street: Rs 3,850 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Agasthiar Street: Rs 4,950 per sq.ft (2024)
• Azhvarthirunagar Annexe 1st Street: Rs 4,950 per sq.ft (2024)
• Azhvarthirunagar Annexe 2 nd Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Azhagiri 1st Street?

The Azhagiri 1st Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded at a value that reflects the current market standards set by the local registration department.

Frequently asked questions

What is the current guideline value of Azhagiri 1st Street?

The current guideline value of Azhagiri 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017, which shows a 49% increase from that year to 2023.

What is the land classification for Azhagiri 1st Street?

Azhagiri 1st Street is classified as Residential Class II Type - I. This classification is important for understanding the types of developments allowed in the area.

Where can I find the Sub Registrar Office for Azhagiri 1st Street?

The Sub Registrar Office covering Azhagiri 1st Street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duties calculated for properties in Azhagiri 1st Street?

Stamp duties are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.