Guideline Value for AMMAN STREET

Amman Street guideline value

The current guideline value of Amman Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Amman Street has changed

The guideline value for Amman Street has undergone several revisions over the years. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, this value dropped to Rs 536 per sq.ft in 2017, before returning to Rs 800 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 revision shows a substantial increase of 540%. The register has no figures for Amman Street in the years 2002 and 2003.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 1,000 per sq.ft, placing Amman Street's 2024 value below this median.

• Anbazhagan Street: Rs 1,300 per sq.ft (2024)
• Alamelu Ammal Street: Rs 1,300 per sq.ft (2024)
• Alamelu Ammal Cross Street: Rs 1,300 per sq.ft (2024)
• Adhiyamaan Street: Rs 1,300 per sq.ft (2024)
• Adhigathur Road: Rs 500 per sq.ft (2024)
• Anna Nagar Sellum Salai: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty, calculated at 7%, would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It’s important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Amman Street?

The Sub Registrar Office covering Amman Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Amman Street?

The current guideline value of Amman Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in both 2023 and 2024.

What is the land classification of Amman Street?

Amman Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Amman Street?

The Sub Registrar Office for Amman Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Vengathur?

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 8,00,000, the stamp duty would be Rs 56,000 at a rate of 7%.