Guideline Value for Amman Koil Street

Amman Koil Street guideline value

The current guideline value of Amman Koil Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Arani village under the Arani_Tiruvallur SRO, and it falls under the land classification of Residential Special Type - II.

How the guideline value of Amman Koil Street has changed

Looking at the historical revisions, the guideline value for Amman Koil Street has seen several changes over the years. The earliest recorded figure is from 2002, where it was Rs 88 per sq.ft. This increased to Rs 98 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 200 per sq.ft in 2007, which was an increase of 104%. The value then saw a significant jump to Rs 500 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 335 per sq.ft in 2017, a reduction of 33%. The guideline value remained at Rs 500 per sq.ft in both 2023 and the upcoming 2024 revision, indicating no change between these two years.

It is important to note that there are no recorded figures for Amman Koil Street in the years not listed above. Overall, from 2002 to 2024, the guideline value has increased by 468%.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft. The median value among these streets is Rs 300 per sq.ft, placing Amman Koil Street's 2024 figure above this median.

• Ambedhkar Street: Rs 200 per sq.ft (2024)
• Athikulam Bazzar Street: Rs 200 per sq.ft (2024)
• Athikulam Street: Rs 200 per sq.ft (2024)
• Balaji Nagar: Rs 200 per sq.ft (2024)
• Bazzar Street: Rs 600 per sq.ft (2024)
• Bestha Veethi: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amman Koil Street?

The Sub Registrar Office that covers Amman Koil Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arani. It serves as a benchmark to determine the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value can significantly influence the overall cost of property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both parties to understand the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Amman Koil Street?

The current guideline value of Amman Koil Street 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 from Rs 88 per sq.ft in 2002 to Rs 500 per sq.ft in 2024, showing an overall increase of 468% over the years.

What are the other streets in Arani with their guideline values?

Other streets in Arani include Ambedhkar Street, Athikulam Bazzar Street, Athikulam Street, Balaji Nagar, Bazzar Street, and Bestha Veethi, with values ranging from Rs 200 to Rs 600 per sq.ft in 2024.

How is stamp duty calculated for properties in Amman Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the stamp duty would be Rs 35,000.

Where can I find the Sub Registrar Office for Amman Koil Street?

The Sub Registrar Office for Amman Koil Street is located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101. You can find more information on how to locate your SRO.