Guideline Value for ACHARI STREET

Achari Street guideline value

The current guideline value of Achari Street in Kolathuvancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Achari Street has changed

The guideline value for Achari Street has seen several revisions over the years. The earliest recorded value is from 2012, which was Rs 1,200 per sq.ft. This value remained unchanged until the next revision in 2017, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. Following that, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no recorded figures for Achari Street in the years 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Achari Street's 2024 figure below that median.

• Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Abirami Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Aandavar Nagar: Rs 990 per sq.ft (2024)
• Annai Abirami Nagar: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Achari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Achari Street?

Achari 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 Kolathuvancheri

The guideline value is a crucial factor during the registration of property transactions in Kolathuvancheri. When a property is bought or sold, the guideline value serves as a benchmark for determining the stamp duty and registration fees that need to be paid.

It ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Achari Street?

The current guideline value of Achari Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Achari Street?

Achari Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Achari Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800, based on the current guideline value of Rs 1,320 per sq.ft.

Which Sub Registrar Office covers Achari Street?

Achari Street falls under the jurisdiction of 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.