Guideline Value for ATHIMOOLAM NAGAR

Athimoolam Nagar guideline value

The current guideline value of Athimoolam Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Athimoolam Nagar has changed

The guideline value for Athimoolam Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 58 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 72% rise. The value then surged to Rs 400 per sq.ft in 2007, representing a substantial 300% increase. Following this, the 2012 revision set the value at Rs 1,500 per sq.ft, a 275% increase from the previous figure. However, in 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 brought the guideline value back up to Rs 1,650 per sq.ft, which is a 64% increase from 2017.

It is important to note that there is no figure for Athimoolam Nagar in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by a remarkable 2,745%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 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 is Rs 1,650 per sq.ft, making the guideline value for Athimoolam Nagar equal to this median. Below are other streets in Pallikaranai:

• Athipoorishwarar Koil Street: Rs 1,650 per sq.ft (2024)
• Astalakshmi Nagar Aveune 3st Cross St: Rs 2,750 per sq.ft (2024)
• Astalakshmi Nagar Avenue 2st Cross St: Rs 2,750 per sq.ft (2024)
• Astalakshmi Nagar Avenue 1st Cross St: Rs 2,750 per sq.ft (2024)
• Astalakshmi Nagar Avenue: Rs 2,750 per sq.ft (2024)
• Auto Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Athimoolam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty charged at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Athimoolam Nagar?

Athimoolam Nagar falls under 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 Pallikaranai

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the taxes are based on the official value set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The guideline value serves as a benchmark for property prices in the area, helping to maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Athimoolam Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 58 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 2,745%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Athimoolam Nagar?

Athimoolam 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.

What is the land classification of Athimoolam Nagar?

The land classification for Athimoolam Nagar is Residential Class IV Type - I.