Guideline Value for AMARAVATHI NAGAR MAIN ROAD

Amaravathi Nagar Main Road guideline value

The current guideline value of Amaravathi Nagar Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - I.

How the guideline value of Amaravathi Nagar Main Road has changed

The guideline value for Amaravathi Nagar Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, reflecting a significant rise of 300%. However, this value dropped to Rs 4,020 per sq.ft in 2017, marking a decrease of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, followed by a further rise to the current rate of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Notably, the register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%, showcasing a significant change over the years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, and Amaravathi Nagar Main Road's 2024 figure is above this median.

• Amaravathi Nagar East I St Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar East II Nd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar West III Rd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar East III Rd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar West II Nd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar West I St Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Amaravathi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amaravathi Nagar Main Road?

The Sub Registrar Office that covers Amaravathi Nagar Main Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Arumbakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value to accurately assess the financial implications of their property transactions. This ensures compliance with local regulations and helps in understanding the overall cost involved in the buying or selling process.

Frequently asked questions

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

The current guideline value of Amaravathi Nagar Main Road is Rs 6,600 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 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in Amaravathi Nagar Main Road?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Which office handles property registrations for Amaravathi Nagar Main Road?

The Kodambakkam Sub Registrar Office handles property registrations for Amaravathi Nagar Main Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum price for property registration and is used to calculate stamp duty and registration fees. It ensures compliance with local regulations and helps buyers and sellers understand the financial implications of their transactions.