Guideline Value for AATHISAMY NAGAR 1ST CROSS STREET

Aathisamy Nagar 1st Cross Street guideline value

The current guideline value of Aathisamy Nagar 1st Cross 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 Aathisamy Nagar 1st Cross Street has changed

Over the years, the guideline value of Aathisamy Nagar 1st Cross Street has experienced several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 1,500 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 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 guideline value of Aathisamy Nagar 1st Cross Street.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, 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 cost 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aathisamy Nagar 1st Cross Street?

Aathisamy Nagar 1st Cross 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 further assistance.

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

The guideline value is a crucial factor during property registration in Pallikaranai. It serves as a benchmark for determining the value of properties, ensuring that the transaction is recorded at a fair price. Buyers and sellers must consider this value when negotiating the sale price of a property.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Aathisamy Nagar 1st Cross 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, with several revisions in between, including a drop to Rs 1,005 per sq.ft in 2017 and a rise to Rs 1,500 per sq.ft in 2023.

What are the stamp duty and registration fees in Aathisamy Nagar 1st Cross Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Aathisamy Nagar 1st Cross Street?

The Chennai South Joint I Sub Registrar Office covers Aathisamy Nagar 1st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Aathisamy Nagar 1st Cross Street?

The land classification for Aathisamy Nagar 1st Cross Street is Residential Class IV Type - I.