Guideline Value for Amarjothi Nagar

Amarjothi Nagar guideline value

The current guideline value of Amarjothi Nagar, located in Adayalampattu village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Amarjothi Nagar has changed

The guideline value of Amarjothi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The change from 2017 to 2023 was a notable 49% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Adayalampattu

Adayalampattu village has 19 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, making Amarjothi Nagar's current value of Rs 2,750 per sq.ft above this median.

• By - Pass Road: Rs 3,850 per sq.ft (2024)
• Guru Brindavan Garden: Rs 2,750 per sq.ft (2024)
• Jaganatha Nagar: Rs 2,420 per sq.ft (2024)
• Kambar Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 3rd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Amarjothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Amarjothi Nagar?

The Sub Registrar Office that covers Amarjothi Nagar is the Chennai South Joint II 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Adayalampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Amarjothi Nagar?

The current guideline value of Amarjothi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Amarjothi Nagar?

Amarjothi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Amarjothi Nagar?

The Sub Registrar Office for Amarjothi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Amarjothi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000.