Guideline Value for AATHI NAGAR MAIN ROAD

Aathi Nagar Main Road guideline value

The current guideline value of Aathi Nagar Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Aathi Nagar Main Road has changed

The guideline value of Aathi Nagar Main Road has undergone 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 latest 2024 revision has set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register for the years 2002, 2003, and 2007 does not contain any figures for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 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 guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Aathi Nagar Main Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aathi Nagar Main Road?

The Sub Registrar Office that covers Aathi Nagar Main Road is 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

When buying or selling property in Pallikaranai, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Understanding how these values are set and revised can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Aathi Nagar Main Road?

The current guideline value of Aathi Nagar Main Road 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Aathi Nagar Main Road?

Aathi Nagar Main Road is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Aathi Nagar Main Road?

The Sub Registrar Office for Aathi Nagar Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.