Guideline Value for Ameeram Street

Ameeram Street guideline value

The current guideline value of Ameeram Street in Madipakkam-1 village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Ameeram Street has changed

The guideline value for Ameeram Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a further increase of 10% from the previous year.

It is important to note that there are no recorded figures for Ameeram Street in the revisions for the years 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Ameeram Street's 2024 figure below this median.

• Ambikabathi Street: Rs 2,200 per sq.ft (2024)
• Ambica Street: Rs 2,200 per sq.ft (2024)
• Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Amman Nagar: Rs 2,750 per sq.ft (2024)
• Amman nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ameeram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ameeram Street?

Ameeram Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, it is important to be aware of the guideline value as it impacts the overall cost of the transaction. The registration department uses this value to calculate the applicable fees and taxes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ameeram Street?

The current guideline value of Ameeram Street 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 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Ameeram Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Ameeram Street?

Ameeram Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Ameeram Street?

Ameeram Street is classified as Residential Class II Type - I according to the local regulations.