Guideline Value for AMMAN NAGAR

Amman Nagar guideline value

The current guideline value of Amman Nagar, located in Koladi village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Amman Nagar has changed

The guideline value of Amman Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,005 per sq.ft. The subsequent revisions showed a steady increase, with the value rising to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Amman Nagar's 2024 figure above that median.

• Amman Nagar 2nd Main Road: Rs 1,650 per sq.ft (2024)
• Amman Nagar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Amman Nagar 3rd Main Road: Rs 1,650 per sq.ft (2024)
• Amman Nagar Extension 2nd Cross: Rs 1,650 per sq.ft (2024)
• Amman Nagar Extension 3rd Cross: Rs 1,650 per sq.ft (2024)
• Amman Nagar Main Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amman Nagar?

The Sub Registrar Office that covers Amman Nagar is the Chennai South Joint II 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 information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This system helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Amman Nagar?

The current guideline value of Amman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What is the land classification of Amman Nagar?

Amman Nagar is classified as Residential Class I Type - II, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for a property in Amman Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Amman Nagar?

The Chennai South Joint II Sub Registrar Office handles registrations for Amman Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.