Guideline Value for Amman Koil st ( Ward No.29 )

Amman Koil st ( Ward No.29 ) guideline value

The current guideline value of Amman Koil st ( Ward No.29 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Amman Koil st ( Ward No.29 ) has changed

The guideline value for Amman Koil st has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, reflecting a -33% change. However, the most recent 2024 revision has increased the value to Rs 1,600 per sq.ft, resulting in a significant increase of 59% from the 2017 figure.

Overall, comparing the 2012 revision to the current 2024 revision, the guideline value has only seen a slight increase of 7%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Amman Koil st ( Ward No.29 ).

• Amman Koil st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Amman Koil Street (Lakshmipuram) (Ward-27): Rs 1,600 per sq.ft (2024)
• Ambujammal Street (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambujamaal St (Ponniamman Medu) (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambethkar Nagar (Ward-13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 6th St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil st ( Ward No.29 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Amman Koil st ( Ward No.29 )?

The Sub Registrar Office that covers Amman Koil st ( Ward No.29 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Amman Koil st ( Ward No.29 )?

The current guideline value of Amman Koil st ( Ward No.29 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024. This reflects a -33% change from 2012 to 2017, followed by a 59% increase from 2017 to 2024.

What is the land classification of Amman Koil st ( Ward No.29 )?

Amman Koil st ( Ward No.29 ) is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in this area.

Where can I find more information about the guideline values in Madhavaram?

More information about the guideline values in Madhavaram can be found in the registration department's guideline value register. The current values for various streets are also available online.

What are the stamp duty and registration fees for properties in this area?

The stamp duty for properties in Amman Koil st ( Ward No.29 ) is 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,44,000 based on the current guideline value.