Guideline Value for Amaravathi Street

Amaravathi Street guideline value

The current guideline value of Amaravathi Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Amaravathi Street has changed

The guideline value for Amaravathi Street has seen several revisions over the years. Starting from Rs 282 per sq.ft in 2002, it increased to Rs 650 per sq.ft in 2003, marking a significant rise of 130%. The value then continued to rise to Rs 900 per sq.ft in 2007, which was an increase of 38%. However, from 2007 to 2012, the value decreased to Rs 3,500 per sq.ft, reflecting a decline of 33%. In 2017, the guideline value rose again to Rs 2,345 per sq.ft, followed by a substantial increase to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1283%. The register does not have figures for the years between 2012 and 2017, nor for any other years not listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the 2024 guideline value for Amaravathi Street.

• Alikan Street: Rs 3,900 per sq.ft (2024)
• Amman Koil Street Lane: Rs 3,900 per sq.ft (2024)
• Amman Koil Street (Vanuvampet): Rs 3,900 per sq.ft (2024)
• Agathiyar Street: Rs 3,900 per sq.ft (2024)
• Andal Nagar - All streets: Rs 3,900 per sq.ft (2024)
• Andal Nagar Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Amaravathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the 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?

The Sub Registrar Office that covers Amaravathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Adambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value as it impacts the overall costs involved in the transaction. It serves as a benchmark for determining the legal value of the property during registration at the Alandur SRO.

Frequently asked questions

What is the current guideline value of Amaravathi Street?

The current guideline value of Amaravathi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1283% over the years.

What is the land classification for Amaravathi Street?

Amaravathi Street is classified as Residential Class I Type - III.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Amaravathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.