Guideline Value for AMMAN KOIL STREET (WARD -15)

Amman Koil Street (Ward -15) guideline value

The current guideline value of Amman Koil Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Amman Koil Street (Ward -15) has changed

The guideline value for Amman Koil Street has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 402 per sq.ft. Following this, the value increased significantly to Rs 600 per sq.ft in 2023 and further rose to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, when comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value in this village is Rs 1,100 per sq.ft, placing Amman Koil Street's current guideline value below this median.

• Ambikapathi Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Ambedkar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Ambedkar Street (Ward -3): Rs 1,320 per sq.ft (2024)
• Andal Street(Per): Rs 440 per sq.ft (2024)
• Anganur Street: Rs 660 per sq.ft (2024)
• Annai Indra Nagar (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. 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 detailed calculations.

Which Sub Registrar Office covers Amman Koil Street (Ward -15)?

The Sub Registrar Office that covers Amman Koil Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. 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 Amman Koil Street (Ward -15)?

The current guideline value of Amman Koil Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Amman Koil Street (Ward -15)?

Amman Koil Street (Ward -15) is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.