Guideline Value for AMMAN KOVIL STREET

Amman Kovil Street guideline value

The current guideline value of Amman Kovil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Amman Kovil Street has changed

The guideline value for Amman Kovil Street has seen significant changes over the years. In 2002, the value was Rs 118 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a 36% rise. The value continued to rise, reaching Rs 400 per sq.ft in 2007, a substantial increase of 150%. However, from 2007 to 2012, the value dropped to Rs 2,000 per sq.ft, a decrease of 33%. The value then remained the same until 2017, when it was revised to Rs 1,340 per sq.ft. This was followed by a notable increase to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,764%. The register has no figures for the years not mentioned above.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Amman Kovil Street's 2024 figure below the median.

• Ambethkar Nagar Salai: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar River Joint Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar Right Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar Left Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 3rd Main Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 3rd Main Cross Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Amman Kovil Street?

The Sub Registrar Office that covers Amman Kovil 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 Manapakkam

The guideline value is a crucial factor in the registration process for property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable to their property transactions.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Amman Kovil Street?

The current guideline value of Amman Kovil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 118 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1,764%.

What are the stamp duty and registration fees for properties in Amman Kovil Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Amman Kovil Street?

The Chennai South Joint I Sub Registrar Office is responsible for Amman Kovil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Amman Kovil Street?

Amman Kovil Street is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.