Guideline Value for Azhagiri 2nd Street

Azhagiri 2nd Street guideline value

The current guideline value of Azhagiri 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Azhagiri 2nd Street has changed

The guideline value for Azhagiri 2nd Street has remained consistent at Rs 3,500 per sq.ft from the 2012 revision until the 2023 revision. In 2024, the value increased to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year.

There are no recorded guideline values for Azhagiri 2nd Street in the revisions from 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which matches the guideline value for Azhagiri 2nd Street.

• Azhagiri 1st Street: Rs 3,850 per sq.ft (2024)
• Azhagiri 3rd Street: Rs 3,850 per sq.ft (2024)
• Azhigiri 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. 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 accurate calculations.

Which Sub Registrar Office covers Azhagiri 2nd Street?

The Azhagiri 2nd Street falls under the jurisdiction of 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 is utilized during the registration of property transactions in Valasaravakkam. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when purchasing or selling property.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government collects appropriate taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Azhagiri 2nd Street?

The current guideline value of Azhagiri 2nd 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 remained at Rs 3,500 per sq.ft from the 2012 revision to the 2023 revision. It increased to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

What are the stamp duty and registration fees for property in Azhagiri 2nd Street?

For a plot of 1,000 sq.ft, the total guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Azhagiri 2nd Street?

The Virugambakkam Sub Registrar Office covers Azhagiri 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Azhagiri 2nd Street?

The land classification for Azhagiri 2nd Street is Residential Class II Type - I, indicating the type of development allowed in the area.