Guideline Value for Amman Nagar

Amman Nagar guideline value

The current guideline value of Amman Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Amman Nagar has changed

The guideline value for Amman Nagar has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,675 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

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

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 guideline value of Amman Nagar.

• Amman Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar 2nd 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 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

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, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amman Nagar?

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

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

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the applicable fees, ensuring that the transaction is compliant with the local regulations. The guideline value helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Amman Nagar?

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

How 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 a total increase of 64% over the seven years.

What are the stamp duty and registration fees for property in Amman Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office handles registrations for Amman Nagar?

The Velacheri Sub Registrar Office is responsible for handling registrations in Amman Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Amman Nagar?

Amman Nagar is classified as Residential Class I Type - III, indicating its designation for residential use.