Guideline Value for ATHITHYA NAGAR

Athithya Nagar guideline value

The current guideline value of Athithya Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Athithya Nagar has changed

The guideline value for Athithya Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is an increase from Rs 600 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, the value was Rs 402 per sq.ft in 2017, reflecting a significant increase of 49% when compared to the previous revision in 2023.

In 2012, the guideline value was Rs 600 per sq.ft, which shows a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Athithya Nagar's 2024 figure above this median.

• Bala Ganesa Nagar: Rs 820 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Al Ameen Nagar II Avenue: Rs 550 per sq.ft (2024)
• Bismillah Golden City: Rs 660 per sq.ft (2024)
• Brindhavan Garden: Rs 510 per sq.ft (2024)
• Abdul Khadar Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Athithya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Athithya Nagar?

Athithya Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value is a crucial factor during property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, 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 registration reflects a fair value of the property being transacted.

Frequently asked questions

What is the current guideline value of Athithya Nagar?

The current guideline value of Athithya Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification of Athithya Nagar?

Athithya Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Athithya Nagar?

The stamp duty rate for properties in Athithya Nagar is 7%, calculated on the higher of the guideline value or the sale price. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Athithya Nagar?

The Sub Registrar Office covering Athithya Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.