Guideline Value for Azhagiri Samy Salai

Azhagiri Samy Salai guideline value

The current guideline value of Azhagiri Samy Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Commercial Special Type - II.

How the guideline value of Azhagiri Samy Salai has changed

The guideline value for Azhagiri Samy Salai has seen significant changes over the years. In the 2002 revision, the value was Rs 965 per sq.ft. This increased to Rs 1,069 per sq.ft in 2003, marking a rise of 11%. The value then saw a modest increase to Rs 1,100 per sq.ft in 2007, which was a 3% change. A substantial jump occurred in the 2012 revision, where the value rose to Rs 8,000 per sq.ft, reflecting an increase of 627%. However, in the 2017 revision, the value dropped to Rs 5,360 per sq.ft, which was a decrease of 33%. From 2017 to 2023, the value increased significantly to Rs 8,000 per sq.ft, representing a 49% rise. The latest revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, a 10% increase from the previous year.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Azhagiri Samy Salai's 2024 figure above this median.

• Azhvar Thirunagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar 2nd Cross Street Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 1st Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Ayyavu Colony Kambar Nagar Extn.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Samy Salai

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhagiri Samy Salai?

The Sub Registrar Office that covers Azhagiri Samy Salai is 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 Virugambakkam

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property's registered value, which is either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Azhagiri Samy Salai?

The current guideline value of Azhagiri Samy Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 965 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 812% over the years.

What is the land classification of Azhagiri Samy Salai?

Azhagiri Samy Salai is classified as Commercial Special Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Azhagiri Samy Salai?

The Sub Registrar Office for Azhagiri Samy Salai is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 88,00,000 would incur a total fee of Rs 7,92,000 for a 1,000 sq.ft plot.