Guideline Value for Amman Nagar 2nd Street

Amman Nagar 2nd Street guideline value

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

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

The overall change from the 2017 revision to the 2024 revision is a notable 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 guideline value for this area is Rs 2,750 per sq.ft, which is equal to the current value of Amman Nagar 2nd Street.

• Amman nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar: Rs 2,750 per sq.ft (2024)
• Amman Nagar Vallalar Street: Rs 2,750 per sq.ft (2024)
• Amman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amman Nagar 2nd Street?

The Sub Registrar Office that covers Amman Nagar 2nd 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 is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty 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 2nd Street?

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

How much has the guideline value changed over the years?

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

What is the land classification for Amman Nagar 2nd Street?

Amman Nagar 2nd Street is classified as Residential Class I Type - III.

Which Sub Registrar Office should I visit for transactions in Amman Nagar 2nd Street?

The Velacheri Sub Registrar Office covers Amman Nagar 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.