Guideline Value for AU-MIT Nagar Phase -I

AU-MIT Nagar Phase -I guideline value

The current guideline value for AU-MIT Nagar Phase -I is Rs 1,000 per sq.ft. This area is located in Atanancheri village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of AU-MIT Nagar Phase -I has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged in the subsequent 2017 revision, where it was adjusted to Rs 670 per sq.ft, marking a decrease of 33%. The 2023 revision saw the value return to Rs 1,000 per sq.ft, and this figure has been maintained in the 2024 revision, reflecting no change from the previous year.

From 2017 to 2023, there was an increase of 49% in the guideline value. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable, showing a 0% change.

Guideline values in Atanancheri

Atanancheri village has a total of 83 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing AU-MIT Nagar Phase -I's 2024 figure above that median.

• Au Mit Nagar Phase II: 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 -I

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the 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, totaling Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers AU-MIT Nagar Phase -I?

The AU-MIT Nagar Phase -I falls under 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 plays a crucial role during the registration of property transactions in Atanancheri. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of AU-MIT Nagar Phase -I?

The current guideline value of AU-MIT Nagar Phase -I 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 seen various changes, with a notable increase of 49% from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023. However, it has remained stable at Rs 1,000 per sq.ft from 2012 to 2024.

What is the land classification for AU-MIT Nagar Phase -I?

The land classification for AU-MIT Nagar Phase -I is Commercial Class I Type - II, indicating its commercial usage potential.

Where can I find the registration office for AU-MIT Nagar Phase -I?

The registration office for AU-MIT Nagar Phase -I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for property in AU-MIT Nagar Phase -I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,000 per sq.ft results in a guideline value of Rs 10,00,000, leading to a total stamp duty and registration fee of Rs 90,000.