Guideline Value for AMARAVATHI NAGAR

Amaravathi Nagar guideline value

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

How the guideline value of Amaravathi Nagar has changed

The guideline value for Amaravathi Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023, and most recently, it has been revised to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 389%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets covered under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, making the current guideline value of Amaravathi Nagar above this median.

• Amaravathi Nagar East III Rd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar East II Nd Cross Street: Rs 6,600 per sq.ft (2024)
• Amarar Durai Street: Rs 4,400 per sq.ft (2024)
• Amaravathi Nagar East I St Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar Main Road: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar West III Rd Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Amaravathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total 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.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Amaravathi Nagar?

The Sub Registrar Office that covers Amaravathi Nagar 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 information.

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

The guideline value is a critical factor during the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged based on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Amaravathi Nagar?

The current guideline value of Amaravathi Nagar 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 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 389% across the years.

What are the stamp duty rates for properties in Amaravathi Nagar?

The stamp duty for properties in Amaravathi Nagar is currently set at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Amaravathi Nagar?

The Kodambakkam Sub Registrar Office covers Amaravathi Nagar, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Amaravathi Nagar?

Amaravathi Nagar is classified as Residential Special Type - I, which influences its guideline value and property transactions.