Guideline Value for AMMA KANNAMMA STREET

Amma Kannamma Street guideline value

The current guideline value of Amma Kannamma Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Amma Kannamma Street has changed

The guideline value for Amma Kannamma Street has seen several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 704 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,100 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023 before reaching the current figure of Rs 2,750 per sq.ft in 2024. The overall change from 2002 to 2024 is an increase of 349%.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw a 10% increase. The changes from 2012 to 2017 reflected a decrease of 33%, while the increase from 2007 to 2012 was 127%. The value also saw a rise of 56% from 2003 to 2007 and a 15% increase from 2002 to 2003. The register has no figures for the years not mentioned above.

Guideline values in Saidapet

Saidapet village has a total of 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Amma Kannamma Street below this median.

• Annadurai Street: Rs 3,300 per sq.ft (2024)
• Deewan Bashyam Iyengar Lane / Street: Rs 3,300 per sq.ft (2024)
• Dhanapal Chetty Street: Rs 2,750 per sq.ft (2024)
• Jayaram Chetty Street: Rs 5,500 per sq.ft (2024)
• Jones Road: Rs 8,250 per sq.ft (2024)
• Kamarajar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Amma Kannamma Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 information.

Which Sub Registrar Office covers Amma Kannamma Street?

The Sub Registrar Office that covers Amma Kannamma Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is often used to assess the official value of the property for these purposes.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions. Understanding the guideline value is essential for anyone looking to navigate the real estate market in Saidapet.

Frequently asked questions

What is the current guideline value of Amma Kannamma Street?

The current guideline value of Amma Kannamma Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 349%.

What is the land classification for Amma Kannamma Street?

Amma Kannamma Street is classified as Residential Class IV Type - III.

Where can I find the Sub Registrar Office for Amma Kannamma Street?

The Sub Registrar Office for Amma Kannamma Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Saidapet?

Stamp duty for properties in Saidapet is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the correct fees are applied during the registration process.