Guideline Value for Amman Avenue

Amman Avenue guideline value

The current guideline value of Amman Avenue in Neelamangalam village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Amman Avenue has changed

The guideline value for Amman Avenue has undergone several revisions over the years. In 2007, the value was Rs 90 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, this value saw a decrease to Rs 335 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft, and the current 2024 revision remains unchanged at Rs 500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The substantial increase from 2007 to 2012 was 456%. Overall, from 2007 to 2024, the guideline value has risen by 456%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Amman Avenue's guideline value below this median.

• Amman Nagar: Rs 500 per sq.ft (2024)
• Dhanakotti Amman Nagar: Rs 500 per sq.ft (2024)
• Jeeva Nagar: Rs 600 per sq.ft (2024)
• Kamaraj Nagar: Rs 600 per sq.ft (2024)
• Kavalkaran Nagar: Rs 600 per sq.ft (2024)
• K.C.R.Nagar: Rs 1,344 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. 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 Amman Avenue?

The Sub Registrar Office that covers Amman Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Neelamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements and accurate financial planning.

When a property is bought or sold, the guideline value helps establish the minimum value for taxation purposes. This means that even if the sale price is lower than the guideline value, the duty will be calculated based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Amman Avenue?

The current guideline value of Amman Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with significant increases and decreases across revisions. The most recent revision in 2024 maintains the value at Rs 500 per sq.ft, the same as in 2023.

What is the land classification for Amman Avenue?

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

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated on properties in Neelamangalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the applicable taxes reflect the true value of the property transaction.