Guideline Value for ATHIYAMAN STREET

Athiyaman Street guideline value

The current guideline value of Athiyaman Street in Perungudi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Athiyaman Street has changed

The guideline value for Athiyaman Street has undergone several revisions over the years. In 2002, the guideline value was Rs 221 per sq.ft. This increased significantly to Rs 650 per sq.ft in 2003, marking a change of +194%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, which was a +23% increase. The next revision in 2012 saw a decrease to Rs 2,500 per sq.ft, reflecting a -33% change. However, the value rose again to Rs 1,675 per sq.ft in 2017, a +49% increase. The most recent revisions show a guideline value of Rs 2,500 per sq.ft in 2023, followed by an increase to Rs 2,800 per sq.ft in 2024, amounting to a +12% change.

There are no figures available for the years between the revisions listed above. Overall, from 2002 to 2024, the guideline value has increased by +1167%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Athiyaman Street's current guideline value is below this median.

• Atrium: Rs 2,800 per sq.ft (2024)
• Avvaiyar Street: Rs 2,800 per sq.ft (2024)
• Balagangatharar Thilakar Street: Rs 2,200 per sq.ft (2024)
• Anna Netunchalai (Mayanam Salai): Rs 3,900 per sq.ft (2024)
• Anna Nedunchalai: Rs 3,900 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Athiyaman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Athiyaman Street?

The Sub Registrar Office that covers Athiyaman Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration of property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that all transactions are in line with the official rates set by the Registration Department, aiding in the transparency and legality of property dealings.

Frequently asked questions

What is the current guideline value of Athiyaman Street?

The current guideline value of Athiyaman Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 221 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1167% over the years.

What is the land classification of Athiyaman Street?

Athiyaman Street falls under the Residential Class III Type - I land classification, which is important for understanding its usage and development potential.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties on Athiyaman Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.