Guideline Value for AUTO NAGAR

Auto Nagar guideline value

The current guideline value of Auto Nagar, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft. This value is effective from the 2024 revision, which took effect on 1 July 2024. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Auto Nagar has changed

The guideline value for Auto Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 71 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 41% increase. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, which was a 300% increase from the previous revision. By 2012, the value had climbed to Rs 1,200 per sq.ft, reflecting a 200% increase from 2007. However, in 2017, the value decreased to Rs 804 per sq.ft, a decline of 33% from 2012. The most recent revision in 2024 saw the guideline value rise to Rs 1,320 per sq.ft, representing a 64% increase from 2017. Notably, there is no figure available for the year 2023 for this street.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,759%. This substantial increase highlights the evolving landscape of property values in the area.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Auto Nagar's 2024 figure below this median.

• Avvai 1st Street: Rs 1,650 per sq.ft (2024)
• Avvai 2nd Street: Rs 1,650 per sq.ft (2024)
• Avvai 4th Street: Rs 1,650 per sq.ft (2024)
• Athipoorishwarar Koil Street: Rs 1,650 per sq.ft (2024)
• Athimoolam Nagar: Rs 1,650 per sq.ft (2024)
• Avvai Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Auto Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Auto Nagar?

The Sub Registrar Office that covers Auto Nagar is the Chennai South Joint I 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 Pallikaranai

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to determine the applicable stamp duty and registration fees. If the sale price is lower than the guideline value, the higher amount will be used for calculating these fees, ensuring that the transaction aligns with the established property values in the area.

Frequently asked questions

What is the current guideline value of Auto Nagar?

The current guideline value of Auto Nagar is Rs 1,320 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 71 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,759%.

What are the stamp duty and registration fees for property in Auto Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles registrations for Auto Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for Auto Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value for streets in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current guideline value of Auto Nagar.