Guideline Value for ATTRANKARAI STREET

Attrankarai Street guideline value

The current guideline value of Attrankarai Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Attrankarai Street has changed

The guideline value for Attrankarai Street has seen significant changes over the years. In the 2002 revision, the value was Rs 70 per sq.ft, which increased to Rs 88 per sq.ft in 2003, marking a 26% rise. The value then rose dramatically to Rs 200 per sq.ft in 2007, reflecting a 127% increase. Following this, the 2012 revision saw the value double to Rs 2,200 per sq.ft, a 1000% increase from the previous revision. However, the value dropped by 33% to Rs 1,474 per sq.ft in 2017.

In the subsequent revisions, the value continued to rise, reaching Rs 2,200 per sq.ft in 2023, a 49% increase from 2017. The latest revision in 2024 has set the guideline value at Rs 2,420 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the revisions in years other than those listed.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value is Rs 3,190 per sq.ft, and Attrankarai Street's 2024 figure is below this median.

• Aura Elio's: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,650 per sq.ft (2024)
• Aparna Street: Rs 3,190 per sq.ft (2024)
• Anusha Street: Rs 3,190 per sq.ft (2024)
• Baskar Street: Rs 3,190 per sq.ft (2024)
• Bbcl Villa Haven: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Attrankarai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Attrankarai Street?

The Sub Registrar Office that covers Attrankarai Street is the Chennai South Joint II 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 information.

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

The guideline value is a critical factor during the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Attrankarai Street?

The current guideline value of Attrankarai Street is Rs 2,420 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 70 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 3357% over the years.

What are the stamp duty and registration fees for properties on Attrankarai Street?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles the registration for Attrankarai Street?

The Chennai South Joint II Sub Registrar Office handles the registration for Attrankarai Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value of a property for registration, affecting the calculation of stamp duty and registration fees based on the higher of the guideline value or the sale price.