Guideline Value for ATHITHYA NAGAR

Athithya Nagar guideline value

The current guideline value of Athithya Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pothur 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 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in 2023, and currently, it stands at Rs 550 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes in guideline value from 2012 to 2024 show an overall increase of 10%. Specifically, the value rose by 49% from 2017 to 2023 and increased by 10% from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value is Rs 550 per sq.ft, making Athithya Nagar's current value equal to this median.

• Aswini Nagar Extension: Rs 440 per sq.ft (2024)
• Aswini Nagar: Rs 440 per sq.ft (2024)
• Ashok City: Rs 330 per sq.ft (2024)
• Anna Nagar South: Rs 550 per sq.ft (2024)
• Anna Nagar East: Rs 550 per sq.ft (2024)
• Anna Nagar: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Athithya Nagar?

The Sub Registrar Office that covers Athithya Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Pothur. It determines the minimum value at which a property can be registered and is used to assess the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that both parties are aware of the official value set by the government, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Athithya Nagar?

The current guideline value of Athithya Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2012 to Rs 550 per sq.ft in 2024, with a notable increase of 49% 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 and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, on a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

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

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