Guideline Value for AU MIT NAGAR PHASE II

Au Mit Nagar Phase II guideline value

The current guideline value for Au Mit Nagar Phase II, located in Atanancheri village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Au Mit Nagar Phase II has changed

Looking at the revisions, the guideline value for Au Mit Nagar Phase II has seen several changes over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 49% back to Rs 1,000 per sq.ft. The most recent revision in 2024 maintains this value at Rs 1,000 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Au Mit Nagar Phase II is above this median.

• AU-MIT Nagar Phase -I: Rs 1,000 per sq.ft (2024)
• Au Mit Nagar Phase III: Rs 1,000 per sq.ft (2024)
• Au Mit Nagar Phase -IV: Rs 1,000 per sq.ft (2024)
• Au Mit Nagar Phase - V: Rs 1,000 per sq.ft (2024)
• A.V.Nagar: Rs 600 per sq.ft (2024)
• Anna Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Au Mit Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Au Mit Nagar Phase II?

The Sub Registrar Office that covers Au Mit Nagar Phase II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Atanancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps to establish the minimum value for the transaction. This means that the stamp duty will be calculated based on the higher of the guideline value or the actual sale price, ensuring that the correct fees are collected by the authorities.

Frequently asked questions

What is the current guideline value of Au Mit Nagar Phase II?

The current guideline value of Au Mit Nagar Phase II is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced various changes, with the most recent revision in 2024 maintaining a value of Rs 1,000 per sq.ft. It was Rs 670 per sq.ft in 2017, and Rs 1,000 per sq.ft in 2012.

What is the land classification for Au Mit Nagar Phase II?

Au Mit Nagar Phase II is classified as Commercial Class I Type - II. This classification can affect the usage and development potential of the property.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 90,000.

Which office handles property registrations for Au Mit Nagar Phase II?

The Gooduvancheri Sub Registrar Office handles property registrations for Au Mit Nagar Phase II, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.