Guideline Value for Azhagiri Nagar

Azhagiri Nagar guideline value

The current guideline value of Azhagiri Nagar, located in Chettimedu village under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Azhagiri Nagar has changed

The guideline value for Azhagiri Nagar has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The subsequent revision in 2023 saw a significant increase to Rs 500 per sq.ft, followed by another substantial rise to Rs 1,000 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 to 2023 revision, the guideline value increased by 49%. The 2023 to 2024 revision marked a 100% increase. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft, with a median value of Rs 1,002 per sq.ft. The guideline value for Azhagiri Nagar is below this median.

• Baba Nagar: Rs 1,008 per sq.ft (2024)
• Bai Nagar: Rs 1,002 per sq.ft (2024)
• Annai Velankanni Avenue: Rs 1,006 per sq.ft (2024)
• Bhanu Nagar: Rs 1,000 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,000 per sq.ft (2024)
• Ananthi Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Azhagiri Nagar?

The Sub Registrar Office covering Azhagiri Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chettimedu. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the authorities will assess the guideline value to calculate the applicable duties. Buyers and sellers should be aware of these values to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Azhagiri Nagar?

The current guideline value of Azhagiri Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, with various increases and decreases in between.

What is the classification of land in Azhagiri Nagar?

Azhagiri Nagar is classified as Residential Special Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Azhagiri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.