Guideline Value for Amirtham Avenue (Udayam Nagar)

Amirtham Avenue (Udayam Nagar) guideline value

The current guideline value of Amirtham Avenue (Udayam Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Amirtham Avenue (Udayam Nagar) has changed

Over the years, the guideline value of Amirtham Avenue has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,500 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, setting the current guideline value at Rs 3,850 per sq.ft.

It is important to note that there are no recorded figures for Amirtham Avenue in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which means that Amirtham Avenue's current value of Rs 3,850 per sq.ft is below this median.

• Ambedkar Street: Rs 3,300 per sq.ft (2024)
• Amudha Street: Rs 3,300 per sq.ft (2024)
• Anaga Street: Rs 3,850 per sq.ft (2024)
• Anaga Street in Sachidhanantha Street: Rs 3,850 per sq.ft (2024)
• Ambica Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Amirtham Avenue (Udayam Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, resulting in a total cost of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Amirtham Avenue (Udayam Nagar)?

The Sub Registrar Office that covers Amirtham Avenue (Udayam Nagar) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid.

When a property is registered, the authorities will assess the guideline value to ensure that the transaction reflects a fair value. This helps maintain transparency in property dealings and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Amirtham Avenue?

The current guideline value of Amirtham Avenue (Udayam Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Amirtham Avenue?

Amirtham Avenue (Udayam Nagar) is classified as Residential Class II Type - III. This classification indicates the type of development permitted in the area.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Amirtham Avenue located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.