Guideline Value for Azhagiri Street

Azhagiri Street guideline value

The current guideline value of Azhagiri 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 Street has changed

The guideline value for Azhagiri Street has seen several revisions over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 467 per sq.ft in 2003, marking a change of +9%. The value further rose to Rs 500 per sq.ft in 2007, reflecting an increase of +7%. By 2012, the guideline value remained unchanged at Rs 3,500 per sq.ft. The next revision in 2023 saw the value increase to Rs 3,500 per sq.ft, with no change from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a +10% increase from the 2023 figure.

Overall, from 2002 to 2024, the guideline value has increased by +797%. It is important to note that the register has no figure for Azhagiri Street for the year 2017.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current value of Azhagiri Street.

• AZHVAR THIRUNAGAR - Agasthiar Street: Rs 4,950 per sq.ft (2024)
• Azhagiri 3rd Street: Rs 3,850 per sq.ft (2024)
• Azhvarthirunagar Annexe 1st Street: Rs 4,950 per sq.ft (2024)
• Azhagiri 2nd Street: Rs 3,850 per sq.ft (2024)
• Azhvarthirunagar Annexe 2 nd Main Road: Rs 4,950 per sq.ft (2024)
• Azhagiri 1st Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please 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 Street?

The Sub Registrar Office that covers Azhagiri Street 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 Valasaravakkam

The guideline value is a critical factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Azhagiri Street?

The current guideline value of Azhagiri 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 increased from Rs 429 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +797% over the years.

What are the stamp duty rates applicable for property in Azhagiri Street?

The stamp duty for property transactions in Azhagiri Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Azhagiri Street located?

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

What is the land classification for Azhagiri Street?

Azhagiri Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.