Guideline Value for Azhvar Nagar 1st Street

Azhvar Nagar 1st Street guideline value

The current guideline value of Azhvar Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Azhvar Nagar 1st Street has changed

The guideline value for Azhvar Nagar 1st Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 341 per sq.ft. This figure increased significantly to Rs 382 per sq.ft in 2003, marking a change of +12%. The value continued to rise, reaching Rs 1,200 per sq.ft in 2007, which was a substantial increase of +214%. In 2012, the guideline value was recorded at Rs 2,500 per sq.ft, reflecting an increase of +108% from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of -33%.

In the subsequent revisions, the value rose to Rs 2,500 per sq.ft in 2023, a significant increase of +49%. The most recent revision in 2024 has set the guideline value at Rs 2,800 per sq.ft, which is an increase of +12% from the previous year. There are no figures available for the revisions in years not listed in the register.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the 2024 figure for Azhvar Nagar 1st Street.

• Azhvar Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar Main: Rs 2,800 per sq.ft (2024)
• Avvai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Azhvar Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhvar Nagar 1st Street?

The Azhvar Nagar 1st Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ullagaram, as it serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with legal requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Azhvar Nagar 1st Street?

The current guideline value of Azhvar Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 341 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +721% over the years.

What is the land classification for Azhvar Nagar 1st Street?

Azhvar Nagar 1st Street is classified under Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% based on the higher of the guideline value or the sale price.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.