Guideline Value for Azis Street

Azis Street guideline value

The current guideline value of Azis Street in Muthialpet village is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class III Type - II.

How the guideline value of Azis Street has changed

Over the years, the guideline value of Azis Street has seen several revisions. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2012 revision. However, the value then decreased to Rs 2,345 per sq.ft in the 2017 revision. The subsequent revisions saw a significant increase, with the 2023 revision setting the value at Rs 3,500 per sq.ft, followed by the current value of Rs 3,800 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

From the 2017 revision to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 9% increase. Overall, from 2007 to 2024, the guideline value has risen by 217%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Azis Street's 2024 figure below this median.

• Ayyasamy street*: Rs 5,500 per sq.ft (2024)
• Ayyasamy2nd lane: Rs 5,500 per sq.ft (2024)
• Ayyasamy 1st lane: Rs 5,500 per sq.ft (2024)
• Ayyapa street: Rs 7,100 per sq.ft (2024)
• Bakers lane: Rs 4,900 per sq.ft (2024)
• Bakers street (Broadway): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Azis Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Azis Street?

The Sub Registrar Office that covers Azis Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the current guideline value to ensure they are prepared for these financial obligations.

Frequently asked questions

What is the current guideline value of Azis Street?

The current guideline value of Azis Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 217%.

What is the land classification of Azis Street?

Azis Street is classified as Residential Class III Type - II under the Chennai North Joint I SRO.

What are the stamp duty and registration fees for property in Azis Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where can I find the Sub Registrar Office for Azis Street?

The Sub Registrar Office covering Azis Street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.