Guideline Value for Azhvar Nagar 3rd Street

Azhvar Nagar 3rd Street guideline value

The current guideline value of Azhvar Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value of Azhvar Nagar 3rd Street has seen significant changes. The earliest recorded figure is from 2002, at Rs 341 per sq.ft. This increased to Rs 382 per sq.ft in 2003, marking a 12% rise. The value then surged to Rs 1,200 per sq.ft in 2007, reflecting a substantial 214% increase. Following this, the value rose to Rs 2,500 per sq.ft in 2012, an increase of 108%. However, it then dropped to Rs 1,675 per sq.ft in 2017, indicating a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate 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 has increased by 721%. There are no figures available for the years not mentioned in this context.

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 aligns with the current guideline value of Azhvar Nagar 3rd Street.

• Azhvar Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar Main: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 1st Street: 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 3rd 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, making the total 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Azhvar Nagar 3rd Street?

The Azhvar Nagar 3rd 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Azhvar Nagar 3rd Street?

The current guideline value of Azhvar Nagar 3rd 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 significantly from Rs 341 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 721%.

What is the land classification for Azhvar Nagar 3rd Street?

Azhvar Nagar 3rd Street is classified as Residential Class II Type - I.

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.

How is the stamp duty calculated for properties in Azhvar Nagar 3rd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,96,000.