Guideline Value for Ameethiya Thottam 1st Street

Ameethiya Thottam 1st Street guideline value

The current guideline value of Ameethiya Thottam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ameethiya Thottam 1st Street has changed

The guideline value for Ameethiya Thottam 1st Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 550 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 445% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in the 2023 revision, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 500%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Ameethiya Thottam 1st Street's 2024 figure below that median.

• Ameethiya Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Ambethkar Colony (Gunamanam Colony): Rs 3,300 per sq.ft (2024)
• Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Adisan Colony: Rs 4,400 per sq.ft (2024)
• Adimoola Perumal Street (Adikesavaperumal Koil Street): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ameethiya Thottam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. 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 Ameethiya Thottam 1st Street?

The Ameethiya Thottam 1st Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public domain.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ameethiya Thottam 1st Street?

The current guideline value of Ameethiya Thottam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 500% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ameethiya Thottam 1st Street?

The Virugambakkam Sub Registrar Office covers Ameethiya Thottam 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Ameethiya Thottam 1st Street?

The land classification for Ameethiya Thottam 1st Street is Residential Class III Type - I.