Guideline Value for Azhvar Nagar 2nd Street

Azhvar Nagar 2nd Street guideline value

The current guideline value of Azhvar Nagar 2nd 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 is classified as Residential Class II Type - I.

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

The guideline value for Azhvar Nagar 2nd Street has seen several revisions over the years. Starting from Rs 341 per sq.ft in 2002, it increased to Rs 382 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of +214%. In 2012, the guideline value was Rs 2,500 per sq.ft, which represented a decrease of -33% from the previous revision. By 2017, it again increased to Rs 1,675 per sq.ft, which was a +49% change from 2012. The value then reached Rs 2,500 per sq.ft in 2023, before the latest revision to Rs 2,800 per sq.ft in 2024, showing an increase of +12%.

Overall, from 2002 to 2024, the guideline value has increased by +721%. The register has no figures for revisions in years not mentioned above.

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. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Azhvar Nagar 2nd Street.

• Azhvar Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to 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. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Azhvar Nagar 2nd Street?

The Sub Registrar Office that covers Azhvar Nagar 2nd Street is 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

When buying or selling property in Ullagaram, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. The guideline value is set by the government and is used as a benchmark for property transactions, ensuring that the fees are calculated accurately based on the property's assessed value.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding these values can help in making informed decisions during the property registration process.

Frequently asked questions

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

The current guideline value of Azhvar Nagar 2nd 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 this period.

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

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

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.

How is the stamp duty calculated for property in Azhvar Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 28,00,000, leading to a stamp duty of Rs 1,96,000.