Guideline Value for Road Street

Road Street guideline value

The current guideline value of Road Street, located in Alapakkam 152 village under the Sunguvarchattram SRO, is Rs 105 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Road Street has changed

The guideline value for Road Street has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which set the value at Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 100 per sq.ft in 2023 and further rose to Rs 105 per sq.ft in the 2024 revision, marking a 5% increase from the previous year. Notably, the register has no figure for this street in the revisions of 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 5%, reflecting the changes in the market over the years.

Guideline values in Alapakkam 152

In Alapakkam 152, there are four streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 105 per sq.ft. The median value among these streets is Rs 100 per sq.ft, making Road Street's 2024 figure above that median.

• Perumal Kovil Street: Rs 100 per sq.ft (2024)
• Vadakku Street: Rs 100 per sq.ft (2024)
• Bajanai Kovil Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current guideline value of Rs 105 per sq.ft, the total guideline value would be Rs 1,05,000. The stamp duty at 7% would amount to Rs 7,350, and the registration fee at 2% would be Rs 2,100, bringing the total cost for these fees to Rs 9,450. 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 Road Street?

The Sub Registrar Office that covers Road Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Alapakkam 152

The guideline value is a crucial factor during the registration of property transactions in Alapakkam 152. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the fees are calculated based on a standardized value, preventing undervaluation or overvaluation of properties. This process aids in maintaining transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street is Rs 105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 105 per sq.ft in 2024.

What is the land classification for Road Street?

Road Street is classified as Residential Class I Type - I under the guideline value register.

What are the other streets in Alapakkam 152?

Other streets in Alapakkam 152 include Perumal Kovil Street, Vadakku Street, and Bajanai Kovil Street, all of which have a 2024 guideline value of Rs 100 per sq.ft.

Where is the Sub Registrar Office for Road Street located?

The Sub Registrar Office for Road Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.