Guideline Value for Amman Koil Street

Amman Koil Street guideline value

The current guideline value of Amman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Amman Koil Street has changed

Since the 2002 revision, the guideline value for Amman Koil Street has seen significant increases. The value started at Rs 738 per sq.ft in 2002, and by 2003, it rose to Rs 806 per sq.ft, marking a 9% increase. The value then experienced a substantial rise of 258% to reach Rs 2,887 per sq.ft in 2007. Following this, the value increased by 73% to Rs 5,000 per sq.ft in 2012. However, there was a decrease of 33% to Rs 3,350 per sq.ft in 2017, before jumping to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 645%. The register has no figures for the years between 2012 and 2017, and for the years prior to 2002.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, and Amman Koil Street's current value of Rs 5,500 per sq.ft is above this median.

• Ameethiya Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Ameethiya Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Ambethkar Colony (Gunamanam Colony): Rs 3,300 per sq.ft (2024)
• Adisan Colony: Rs 4,400 per sq.ft (2024)
• Adimoola Perumal Street (Adikesavaperumal Koil Street): Rs 4,400 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Amman Koil Street?

The Sub Registrar Office that covers Amman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the official value set by the government. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Amman Koil Street?

The current guideline value of Amman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 738 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 645% over the years.

What is the land classification for Amman Koil Street?

Amman Koil Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

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

The Sub Registrar Office for Amman Koil Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find more information by visiting the appropriate link.