Guideline Value for AMARAVATHI STREET

Amaravathi Street guideline value

The current guideline value of Amaravathi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Amaravathi Street has changed

The guideline value for Amaravathi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. The value then increased to Rs 1,000 per sq.ft in 2023, marking a significant rise of 49% from 2017. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Amaravathi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Amaravathi Street's 2024 figure below that median.

• Ambedkar Nagar: Rs 2,160 per sq.ft (2024)
• Alamaram Street: Rs 2,420 per sq.ft (2024)
• A.G.S.Staff Colony: Rs 2,420 per sq.ft (2024)
• A.G.S. Colony: Rs 2,420 per sq.ft (2024)
• Agastheesvarar Nagar: Rs 2,750 per sq.ft (2024)
• Abirami Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Amaravathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is essential 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 Amaravathi Street?

The Sub Registrar Office that covers Amaravathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction reflects a fair value for taxation purposes. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Amaravathi Street?

The current guideline value of Amaravathi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Nemilicherry?

The median guideline value for the 172 streets in Nemilicherry is Rs 2,160 per sq.ft, with Amaravathi Street's value being below this median.

What are the stamp duty and registration fees for Amaravathi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, with stamp duty at Rs 77,000 and registration fees at Rs 22,000, totaling Rs 99,000.

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

The Pallavaram Sub Registrar Office covers Amaravathi Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.