Guideline Value for Azhagiri Street

Azhagiri Street guideline value

The current guideline value of Azhagiri Street in Puzhal village, under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of Azhagiri Street has changed

The guideline value of Azhagiri Street has seen several revisions over the years. In 2002, the guideline value was Rs 993 per sq.ft. This figure dropped to Rs 101 per sq.ft in 2003, reflecting a decrease of 90%. The value then increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 197%. Following that, the guideline value rose to Rs 800 per sq.ft in 2012, an increase of 167%. However, it fell to Rs 536 per sq.ft in 2017, which was a decrease of 33%. The value then increased again to Rs 1,000 per sq.ft in 2023, showing an increase of 87%. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in the years not listed above. The overall change from 2002 to 2024 indicates an increase of 11% in the guideline value.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Azhagiri Street's 2024 figure slightly below that median.

• Bajanai Kovil Street: Rs 1,100 per sq.ft (2024)
• Ashok Nagar: Rs 1,650 per sq.ft (2024)
• Balaji Nagar Extension-1: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part-3: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part I: Rs 1,100 per sq.ft (2024)
• Anna Ninaivu Nagar 7th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Azhagiri Street?

The Sub Registrar Office that covers Azhagiri Street 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 Puzhal

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Puzhal, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with the regulations set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration. The guideline value serves as a benchmark for assessing property transactions, ensuring transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Azhagiri Street?

The current guideline value of Azhagiri Street is Rs 1,100 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 993 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the land classification of Azhagiri Street?

Azhagiri Street falls under the Residential Class II Type - I land classification.

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

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

How is stamp duty calculated for properties in Azhagiri Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.