Guideline Value for AMSAVALLI STREET (SOMU NAGAR)

Amsavalli Street (Somu Nagar) guideline value

The current guideline value of Amsavalli Street (Somu Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Amsavalli Street (Somu Nagar) has changed

The guideline value for Amsavalli Street (Somu Nagar) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. However, it decreased to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 saw a significant increase to Rs 2,750 per sq.ft, marking a change of +64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for Amsavalli Street (Somu Nagar). The fluctuations in the guideline value reflect the changes in the real estate landscape over the years.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Amsavalli Street's 2024 figure above that median.

• Amman Koil Salai: Rs 1,320 per sq.ft (2024)
• Anbalagar Nagar: Rs 1,320 per sq.ft (2024)
• Ambethkar Nagar Nehru 3rd Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar Nehru 2nd Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar Nehru 1st Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Amsavalli Street (Somu Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost would be Rs 2,47,500. 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 Amsavalli Street (Somu Nagar)?

Amsavalli Street (Somu Nagar) is covered by 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. 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 guideline value is compared with the sale price, and the higher of the two is used for calculating the applicable duties and fees. 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 Amsavalli Street (Somu Nagar)?

The current guideline value of Amsavalli Street (Somu Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then to Rs 2,750 per sq.ft in 2024. This represents a +64% increase from 2017 to 2024.

What is the land classification for Amsavalli Street (Somu Nagar)?

The land classification for Amsavalli Street (Somu Nagar) is Residential Special Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office covers Amsavalli Street (Somu Nagar)?

Amsavalli Street (Somu Nagar) falls under the jurisdiction of 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.

How is stamp duty calculated for properties in Amsavalli Street (Somu Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500 at 7%.