Guideline Value for Azhvar Nagar 2nd Cross Street

Azhvar Nagar 2nd Cross Street guideline value

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

How the guideline value of Azhvar Nagar 2nd Cross Street has changed

The guideline value for Azhvar Nagar 2nd Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 341 per sq.ft. This increased to Rs 382 per sq.ft in 2003, marking a 12% rise. The value continued to climb significantly to Rs 1,200 per sq.ft in 2007, which represented a 214% increase. In 2012, the value was recorded at Rs 2,500 per sq.ft, reflecting a substantial 108% increase from the previous revision. However, in 2017, it dropped to Rs 1,675 per sq.ft, showing a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Azhvar Nagar 2nd Cross Street has increased by 721%. The register has no figures for the revisions in years other than those specified.

Guideline values in Ullagaram

In Ullagaram, 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, with a median value of Rs 2,800 per sq.ft. Azhvar Nagar 2nd Cross Street's 2024 figure is equal to this median.

• Azhvar Nagar 1st 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 2nd Cross 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 be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Azhvar Nagar 2nd Cross Street?

The Azhvar Nagar 2nd Cross Street is covered by 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 further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the appropriate value of the property being transferred.

Frequently asked questions

What is the current guideline value of Azhvar Nagar 2nd Cross Street?

The current guideline value of Azhvar Nagar 2nd Cross 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, marking an overall increase of 721% over the years.

What is the land classification for Azhvar Nagar 2nd Cross Street?

Azhvar Nagar 2nd Cross Street is classified as Residential Class II Type - I.

What are the stamp duty rates applicable for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Alandur Sub Registrar Office?

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