Guideline Value for AIBEOA Nagar

AIBEOA Nagar guideline value

The current guideline value of AIBEOA Nagar, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of AIBEOA Nagar has changed

The guideline value for AIBEOA Nagar has seen several revisions over the years. In 2002, the value was Rs 245 per sq.ft, which increased to Rs 269 per sq.ft in 2003. The value then rose significantly to Rs 1,500 per sq.ft in 2007, followed by a decrease to Rs 6,500 per sq.ft in 2012. In 2017, it was revised to Rs 4,355 per sq.ft, and then increased to Rs 6,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft.

Between 2002 and 2024, the overall increase in the guideline value is 2,798%. Notable changes include a 333% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. The change from 2023 to 2024 is 9%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for AIBEOA Nagar is equal to the median value of Rs 7,100 per sq.ft for the area.

• A.K.R. New Nagar: Rs 3,800 per sq.ft (2024)
• Akshya Colony: Rs 7,100 per sq.ft (2024)
• Ambathur Industrial Estate: Rs 6,600 per sq.ft (2024)
• Ambattur Industrial Estate 1st Main Road: Rs 6,600 per sq.ft (2024)
• Ambattur Industrial Estate 2nd Main Road: Rs 6,600 per sq.ft (2024)
• Ambattur Industrial Estate Road (Wavin To Mugappair Rod Junction): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in AIBEOA Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers AIBEOA Nagar?

The Sub Registrar Office covering AIBEOA Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Mugappair. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of AIBEOA Nagar?

The current guideline value of AIBEOA Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 245 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, representing an overall increase of 2,798%.

What are the stamp duty and registration fees for property in AIBEOA Nagar?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registrations for AIBEOA Nagar?

The Konnur Sub Registrar Office handles property registrations for AIBEOA Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value when buying or selling property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for ensuring compliance with local regulations and determining the financial obligations related to property transfers.