Guideline Value for AMAR STREET

Amar Street guideline value

The current guideline value of Amar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Amar Street has changed

Looking at the historical guideline values, the most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a 13% rise. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. The overall change from 2017 to 2024 reflects a 69% increase.

It is important to note that the guideline register has no figures for the years 2002, 2003, 2007, and 2012 for Amar Street. This lack of data means we cannot assess any changes in those years.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this village is Rs 2,200 per sq.ft, indicating that Amar Street's 2024 figure is below this median.

• Ambedkar 1st Cross Street (O.M.R.): Rs 2,200 per sq.ft (2024)
• Ambedkar 2nd Cross Street (O.M.R.): Rs 2,200 per sq.ft (2024)
• Ambedkar 3rd Cross Street (O.M.R.): Rs 2,200 per sq.ft (2024)
• Ambedkar 4th Cross Street (O.M.R.): Rs 2,200 per sq.ft (2024)
• Ambedkar 5th Cross Street (O.M.R.): Rs 2,200 per sq.ft (2024)
• Ambedkar 6th Cross Street (O.M.R.): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Amar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amar Street?

The Sub Registrar Office that covers Amar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Amar Street?

The current guideline value of Amar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 69% over this period.

What are the other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 include Ambedkar 1st Cross Street, Ambedkar 2nd Cross Street, Ambedkar 3rd Cross Street, Ambedkar 4th Cross Street, Ambedkar 5th Cross Street, and Ambedkar 6th Cross Street, all with a guideline value of Rs 2,200 per sq.ft in 2024.

What is the registration fee for property in Amar Street?

The registration fee for property in Amar Street is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, the registration fee would be Rs 34,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.