Guideline Value for Amirtham Avenue

Amirtham Avenue guideline value

The current guideline value of Amirtham Avenue is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Amirtham Avenue has changed

Over the years, the guideline value of Amirtham Avenue has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision marked a significant drop to Rs 2,345 per sq.ft. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision has set it at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. Notably, the jump from the 2017 figure to the 2023 figure represents a 49% increase, while the 2012 to 2017 period saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Amirtham Avenue's 2024 figure below this median.

• Amirtham Avenue (Udayam Nagar): Rs 3,850 per sq.ft (2024)
• Ambica Street: Rs 4,950 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Amirtham Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Amirtham Avenue?

The Sub Registrar Office that covers Amirtham Avenue 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 is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, understanding the guideline value helps in budgeting for additional costs associated with the transaction. It is advisable to check the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Amirtham Avenue?

The current guideline value of Amirtham Avenue 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 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Amirtham Avenue?

Amirtham Avenue is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for Amirtham Avenue?

The Sub Registrar Office for Amirtham Avenue is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Amirtham Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.