Guideline Value for Azhvar Nagar Main

Azhvar Nagar Main guideline value

The current guideline value of Azhvar Nagar Main 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 Main has changed

Over the years, the guideline value of Azhvar Nagar Main has seen significant changes. The earliest recorded revision in 2003 set the value at Rs 382 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a substantial rise of 214%. The value then rose to Rs 2,500 per sq.ft in 2012, reflecting an increase of 108%. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,800 per sq.ft, a 12% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 633%. It is important to note that the register has no figure for Azhvar Nagar Main for the year 2002.

Guideline values in Ullagaram

In Ullagaram, a total of 298 streets carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median value being Rs 2,800 per sq.ft. Azhvar Nagar Main's 2024 figure aligns with this median.

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

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 fees together to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Azhvar Nagar Main?

The Azhvar Nagar Main street falls under 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 the registration process when buying or selling property in Ullagaram. It is used to determine the stamp duty and registration fees applicable for the transaction, ensuring that the property is valued appropriately according to the local regulations.

When a property is sold, the guideline value is considered to ensure that both the buyer and seller are aware of the official valuation. This helps in maintaining transparency and compliance with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Azhvar Nagar Main?

The current guideline value of Azhvar Nagar Main 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 382 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the stamp duty rate for property in Azhvar Nagar Main?

The stamp duty rate for property transactions in Azhvar Nagar Main is 7% of the guideline value or sale price, whichever is higher.

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.

What is the land classification of Azhvar Nagar Main?

Azhvar Nagar Main is classified as Residential Class II Type - I, which indicates its designation for residential use.