Guideline Value for AMMANIAMMAL STREET

Ammaniammal Street guideline value

The current guideline value of Ammaniammal Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Ammaniammal Street has changed

The guideline value for Ammaniammal Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 872 per sq.ft. This increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase. In 2012, the value remained unchanged at Rs 8,000 per sq.ft, and this figure persisted until the 2023 revision. The 2023 revision saw the guideline value increase to Rs 8,000 per sq.ft, with no change from the previous revision.

In the latest 2024 revision, the guideline value increased by 10% to Rs 8,800 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 909%. It is important to note that there is no figure available for the 2017 revision in the register for Ammaniammal Street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, with values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current figure for Ammaniammal Street.

• Anandam Colony: Rs 8,800 per sq.ft (2024)
• Anandapuram: Rs 8,800 per sq.ft (2024)
• Ananda Salai: Rs 8,800 per sq.ft (2024)
• Andal Nainiyappan Street: Rs 8,800 per sq.ft (2024)
• Andhu Street: Rs 8,800 per sq.ft (2024)
• Alamelu Mangapuram: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ammaniammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these fees Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ammaniammal Street?

The Sub Registrar Office that covers Ammaniammal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further assistance.

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

The guideline value is an important factor when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value of a property, which is used to calculate stamp duty and registration fees during the transaction process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, 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 ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Ammaniammal Street?

The current guideline value of Ammaniammal Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 872 per sq.ft to Rs 8,800 per sq.ft in 2024, marking an overall increase of 909% over this period.

What is the land classification of Ammaniammal Street?

Ammaniammal Street is classified as Residential Class III Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties on Ammaniammal Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000, and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles registrations for Ammaniammal Street?

The Mylapore Sub Registrar Office handles registrations for Ammaniammal Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.