Guideline Value for Amal Nagar

Amal Nagar guideline value

The current guideline value of Amal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Amal Nagar has changed

The guideline value for Amal Nagar has undergone several revisions over the years. Starting from Rs 362 per sq.ft in 2002, it increased to Rs 446 per sq.ft in 2003, marking a 23% rise. The value then rose by 35% to reach Rs 600 per sq.ft in 2007. Following this, the value saw a significant increase of 233%, reaching Rs 2,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by a 10% rise to the current value of Rs 2,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 508%. Notably, there are no figures available for the revisions in years other than those specified.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Amal Nagar is below this median.

• Ambal Nagar: Rs 2,200 per sq.ft (2024)
• Albin Nagar: Rs 2,200 per sq.ft (2024)
• Ambedhkar Street: Rs 2,200 per sq.ft (2024)
• Alamelupuram: Rs 3,300 per sq.ft (2024)
• Alagesan Street: Rs 6,600 per sq.ft (2024)
• Abdul Razak Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Amal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Amal Nagar?

The Sub Registrar Office covering Amal Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Tambaram. When buying or selling property, this value is crucial as it determines the stamp duty and registration fees applicable during the registration process.

During registration, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Amal Nagar?

The current guideline value of Amal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 362 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 508% over this period.

What is the stamp duty rate for property transactions in Amal Nagar?

The stamp duty rate for property transactions in Amal Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Amal Nagar located?

The Sub Registrar Office for Amal Nagar is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What are the guideline values of other streets in Tambaram?

Other streets in Tambaram have varying guideline values. For example, Ambal Nagar, Albin Nagar, and Ambedhkar Street all have a guideline value of Rs 2,200 per sq.ft in 2024.