Guideline Value for AATHI NAGAR 1ST STREET

Aathi Nagar 1st Street guideline value

The current guideline value of Aathi Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Aathi Nagar 1st Street has changed

The guideline value for Aathi Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the current 2024 revision has further increased it to Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Aathi Nagar 1st Street.

• Aathi Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Aathi Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Aathi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aathi Nagar 1st Street?

The Aathi Nagar 1st Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that are to be paid when a property is bought or sold.

When you register a property, the authorities will assess the guideline value to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the necessary fees are collected based on the established values.

Frequently asked questions

What is the current guideline value of Aathi Nagar 1st Street?

The current guideline value of Aathi Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% from 2012 to 2024.

What are the stamp duty rates for properties in Aathi Nagar 1st Street?

The stamp duty rate for properties in Aathi Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Aathi Nagar 1st Street?

The registrations for Aathi Nagar 1st Street are handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Aathi Nagar 1st Street?

The land classification for Aathi Nagar 1st Street is Residential Class IV Type - I, indicating its designation for residential purposes.