Guideline Value for Azhagiri Street

Azhagiri Street guideline value

The current guideline value of Azhagiri Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Azhagiri Street has changed

The guideline value for Azhagiri Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft. This increased significantly in 2012 to Rs 1,200 per sq.ft, marking a 100% rise. However, in 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, followed by the latest revision in 2024, which established the current rate at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Notably, there are no figures available for Azhagiri Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, indicating that Azhagiri Street's 2024 figure is below this median.

• Azhagammal Lane: Rs 1,300 per sq.ft (2024)
• Avoor Muthiah Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar Cross street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhagiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Azhagiri Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that property transactions are registered accurately and transparently.

Frequently asked questions

What is the current guideline value of Azhagiri Street?

The current guideline value of Azhagiri Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 600 per sq.ft in 2007, rising to Rs 1,200 in 2012, dropping to Rs 804 in 2017, increasing to Rs 1,200 in 2023, and finally reaching Rs 1,300 in 2024.

What is the stamp duty rate for properties in Azhagiri Street?

The stamp duty rate for properties in Azhagiri Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical value revisions. It is regularly updated to reflect current market conditions.