Guideline Value for ATRIUM

Atrium guideline value

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

How the guideline value of Atrium has changed

The guideline value for Atrium has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, this figure saw a significant increase in the subsequent years, reaching Rs 2,500 per sq.ft in 2023, and further rising to Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 reflects a 12% increase, demonstrating fluctuations in the guideline values over the years. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Atrium's 2024 figure of Rs 2,800 per sq.ft is below this median.

• Athiyaman Street: 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 Atrium

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. Please 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 Atrium?

The Sub Registrar Office that covers Atrium 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 is an essential factor during the registration of property transactions in Perungudi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Atrium?

The current guideline value of Atrium 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 from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification of Atrium?

Atrium is classified under Residential Class III Type - I land classification.

What are the stamp duty and registration fees for Atrium?

The stamp duty for a property valued at Rs 28,00,000 would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles the registration for Atrium?

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