Guideline Value for A.M.ALI STREET

A.M.Ali Street guideline value

The current guideline value of A.M.Ali Street in Palavakkam village is Rs 1,700 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class IV Type - II.

How the guideline value of A.M.Ali Street has changed

The guideline value for A.M.Ali Street has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,005 per sq.ft, before rising again to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 has brought the value to Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 143%. Notably, there are no figures available for the years 2002 and 2003 in the register for A.M.Ali Street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. A.M.Ali Street's current guideline value is below this median.

• All India Radio Staff Colony: Rs 2,200 per sq.ft (2024)
• All Indian Radio 4th Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 3rd Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 2nd Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 1st Street: Rs 3,900 per sq.ft (2024)
• Ambedkar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in A.M.Ali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.M.Ali Street?

A.M.Ali Street is covered by the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Palavakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of A.M.Ali Street?

The current guideline value of A.M.Ali Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 143%.

What is the land classification for A.M.Ali Street?

A.M.Ali Street is classified as Residential Class IV Type - II.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in A.M.Ali Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,19,000.