Guideline Value for Al Ameen Nagar II Avenue

Al Ameen Nagar II Avenue guideline value

The current guideline value of Al Ameen Nagar II Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Pammathukulam village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Al Ameen Nagar II Avenue has changed

The guideline value for Al Ameen Nagar II Avenue has seen several revisions over the years. In 2003, the guideline value was Rs 22 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. Following that, the value rose to Rs 500 per sq.ft in 2012, but then decreased by 33% to Rs 335 per sq.ft in 2017. The value then increased by 49% to Rs 500 per sq.ft in 2023, and finally, it was revised to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2400%, reflecting significant changes over the years.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the current value of Al Ameen Nagar II Avenue.

• Abdul Khadar Avenue: Rs 440 per sq.ft (2024)
• Aathangarai Syed Ali Fathima Nagar: Rs 550 per sq.ft (2024)
• Athithya Nagar: Rs 660 per sq.ft (2024)
• Bala Ganesa Nagar: Rs 820 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Bismillah Golden City: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Al Ameen Nagar II Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Al Ameen Nagar II Avenue?

The Sub Registrar Office that covers Al Ameen Nagar II Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees applicable at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When a property is sold, the guideline value is used to assess the appropriate taxes, which are charged based on the higher of the guideline value or the sale price. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Al Ameen Nagar II Avenue?

The current guideline value of Al Ameen Nagar II Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 22 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 2400% since 2003.

What is the land classification for Al Ameen Nagar II Avenue?

Al Ameen Nagar II Avenue is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Al Ameen Nagar II Avenue?

The Sub Registrar Office for Al Ameen Nagar II Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Al Ameen Nagar II Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.