Guideline Value for Amaravathi Street(ICF)

Amaravathi Street(ICF) guideline value

The current guideline value of Amaravathi Street(ICF) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Amaravathi Street(ICF) has changed

According to the register, the guideline value for Amaravathi Street(ICF) has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,474 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2023 revision. The most recent 2024 revision shows a further increase to Rs 2,400 per sq.ft, marking a 9% rise from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%.

Guideline values in 5. Athipattu

In 5. Athipattu village, there are 119 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Amaravathi Street(ICF) above that median.

• Alli Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Alamaram Street: Rs 1,100 per sq.ft (2024)
• Amman Koil Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Annai Therasa Street: Rs 2,200 per sq.ft (2024)
• Annamalai Avenue ( A.N.A. Avenue): Rs 4,400 per sq.ft (2024)
• Annamalai Avenue Extention: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Amaravathi Street(ICF)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for these fees would be Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amaravathi Street(ICF)?

The Sub Registrar Office that covers Amaravathi Street(ICF) is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value plays a crucial role in the registration of property transactions in 5. Athipattu. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is determined by the local government and reflects the market value of the property based on various factors.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Amaravathi Street(ICF)?

The current guideline value of Amaravathi Street(ICF) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 63%, from Rs 1,474 per sq.ft to Rs 2,400 per sq.ft in 2024.

What is the land classification for Amaravathi Street(ICF)?

Amaravathi Street(ICF) is classified as Residential Class I Type - I.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000.