Guideline Value for Amman Nagar Vallalar Street

Amman Nagar Vallalar Street guideline value

The current guideline value of Amman Nagar Vallalar Street is Rs 2,750 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Amman Nagar Vallalar Street has changed

Over the years, the guideline value of Amman Nagar Vallalar Street has seen significant changes. The earliest registered figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This was followed by the 2023 revision, where the value increased to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Amman Nagar Vallalar Street.

• Amman Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar: Rs 2,750 per sq.ft (2024)
• Anadal Nagar Extension, Saraswathi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Nagar Vallalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amman Nagar Vallalar Street?

The Sub Registrar Office that covers Amman Nagar Vallalar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees 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 Nagar Vallalar Street?

The current guideline value of Amman Nagar Vallalar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 with a guideline value of Rs 2,750 per sq.ft in 2024 include Amman Nagar 4th Street, Amman Nagar 3rd Street, Amman Nagar 2nd Street, Amman Nagar 1st Street, and Amman Nagar.

What fees are associated with buying property in Amman Nagar Vallalar Street?

When buying property in Amman Nagar Vallalar Street, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Velacheri Sub Registrar Office covers Amman Nagar Vallalar Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.