Guideline Value for Amman Nagar

Amman Nagar guideline value

The current guideline value of Amman Nagar, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Amman Nagar has changed

Over the years, the guideline value of Amman Nagar has seen several revisions. In 2007, the guideline value was Rs 90 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017, marking a decline of 33%. From 2017 to 2023, the value rose by 49% back to Rs 500 per sq.ft. The current rate has remained the same since the 2023 revision.

The 2024 revision maintains the guideline value at Rs 500 per sq.ft, showing no change from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, indicating that Amman Nagar's 2024 figure is below this median.

• Amman Avenue: Rs 500 per sq.ft (2024)
• Dhanakotti Amman Nagar: Rs 500 per sq.ft (2024)
• Jeeva Nagar: Rs 600 per sq.ft (2024)
• Kamaraj Nagar: Rs 600 per sq.ft (2024)
• Kavalkaran Nagar: Rs 600 per sq.ft (2024)
• K.C.R.Nagar: Rs 1,344 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. 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 information.

Which Sub Registrar Office covers Amman Nagar?

The Amman Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value plays a crucial role during property transactions in Neelamangalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When registering a property, the guideline value is compared to 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 correct amount based on the property's value, as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Amman Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 500 per sq.ft. The value increased from Rs 90 per sq.ft in 2007 to Rs 500 in 2012, then decreased to Rs 335 in 2017, before returning to Rs 500 in 2023.

What are the guideline values for other streets in Neelamangalam?

Other streets in Neelamangalam have varying guideline values, with rates ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft.

What fees are associated with property transactions in Amman Nagar?

When buying property in Amman Nagar, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Amman Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Amman Nagar. It is located on Defence Colony Road, near the Veterinary Hospital in Nanthivaram, Guduvancheri-603202.