Guideline Value for Amman Koil Street (ward 5)

Amman Koil Street (ward 5) guideline value

The current guideline value of Amman Koil Street (ward 5) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Tharapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Amman Koil Street (ward 5) has changed

The guideline value for Amman Koil Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 603 per sq.ft. This increased to Rs 900 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 990 per sq.ft, representing a 10% increase from the previous year.

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

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that Amman Koil Street's 2024 figure is below the median.

• Amman Koil Street (ward 7): Rs 990 per sq.ft (2024)
• Ambethkar Street (ward 4): Rs 1,100 per sq.ft (2024)
• Ambethkar Street (ward 3): Rs 1,100 per sq.ft (2024)
• Ambethkar Street (ward 2): Rs 1,100 per sq.ft (2024)
• Alex Nagar: Rs 1,100 per sq.ft (2024)
• Anna Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil Street (ward 5)

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amman Koil Street (ward 5)?

The Sub Registrar Office that covers Amman Koil Street (ward 5) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and completing registration processes.

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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Amman Koil Street (ward 5)?

The current guideline value of Amman Koil Street (ward 5) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Amman Koil Street (ward 5)?

The land classification for Amman Koil Street (ward 5) is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Amman Koil Street (ward 5)?

The Sub Registrar Office for Amman Koil Street (ward 5) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Tharapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.