Guideline Value for Azhvar Thirunagar 2nd Cross Street Main Road

Azhvar Thirunagar 2nd Cross Street Main Road guideline value

The current guideline value of Azhvar Thirunagar 2nd Cross Street Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Azhvar Thirunagar 2nd Cross Street Main Road has changed

The guideline value for Azhvar Thirunagar 2nd Cross Street Main Road has seen significant changes over the years. Starting from Rs 400 per sq.ft in 2002, the value increased to Rs 443 per sq.ft in 2003, marking an increase of 11%. The value then surged to Rs 1,100 per sq.ft in 2007, reflecting a substantial increase of 148%. In 2012, the value was Rs 5,000 per sq.ft, which was a remarkable increase of 355% from the previous revision. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017, a decline of 33%. The guideline value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,275%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Azhvar Thirunagar 2nd Cross Street Main Road above this median.

• Azhvar Thirunagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 1st Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Azhagiri Samy Salai: Rs 8,800 per sq.ft (2024)
• Ayyavu Colony Kambar Nagar Extn.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Azhvar Thirunagar 2nd Cross Street Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Azhvar Thirunagar 2nd Cross Street Main Road?

The Sub Registrar Office that covers Azhvar Thirunagar 2nd Cross Street Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Azhvar Thirunagar 2nd Cross Street Main Road?

The current guideline value of Azhvar Thirunagar 2nd Cross Street Main Road is Rs 5,500 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 400 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 1,275% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Azhvar Thirunagar 2nd Cross Street Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Azhvar Thirunagar 2nd Cross Street Main Road?

Azhvar Thirunagar 2nd Cross Street Main Road is classified as Residential Class II Type - I.