Guideline Value for AMMAN KOIL 2ND LANE

Amman Koil 2nd Lane guideline value

The current guideline value of Amman Koil 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Amman Koil 2nd Lane has changed

The guideline value for Amman Koil 2nd Lane has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 3,015 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 4,500 per sq.ft, followed by the current value of Rs 4,900 per sq.ft from the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 represents a 9% rise. The overall change from the 2007 revision to the current 2024 value is an increase of 172%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Amman Koil 2nd Lane's 2024 figure below that median.

• Amman Koil 1st Lane: Rs 4,900 per sq.ft (2024)
• Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Anantha Vinayagar Koil Street: Rs 4,900 per sq.ft (2024)
• Alexander Road: Rs 4,900 per sq.ft (2024)
• Alexander Lane: Rs 4,900 per sq.ft (2024)
• Angalamman Koil Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Amman Koil 2nd Lane?

The Sub Registrar Office that covers Amman Koil 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is an important factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with the legal requirements during property transactions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Amman Koil 2nd Lane?

The current guideline value of Amman Koil 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 172% over the years.

What are the stamp duty rates for property in Amman Koil 2nd Lane?

The stamp duty for property in Amman Koil 2nd Lane is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registrations in Purasaivakkam. It is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value for streets in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, which means Amman Koil 2nd Lane's current value is below this median.