Guideline Value for Amman Street

Amman Street guideline value

The current guideline value of Amman Street is Rs 1,400 per sq.ft. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Amman Street has changed

The guideline value for Amman Street has undergone several revisions over the years. Starting from Rs 115 per sq.ft in 2002, the value increased to Rs 124 per sq.ft in 2003, marking an 8% increase. By 2007, the value had significantly risen to Rs 300 per sq.ft, reflecting a 142% increase from the previous revision. The 2012 revision saw the value rise to Rs 1,300 per sq.ft, which was a substantial 333% increase from 2007. However, in 2017, the value decreased to Rs 871 per sq.ft, indicating a decline of 33%.

In 2023, the guideline value was revised to Rs 1,300 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 1,400 per sq.ft, an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1117%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Amman Street's 2024 guideline value is below this median.

• Amuthan Nagar: Rs 1,100 per sq.ft (2024)
• Amman Nagar: Rs 1,400 per sq.ft (2024)
• Anandan Street (S.No.61, 62, 72,71): Rs 1,300 per sq.ft (2024)
• Anandham Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Ameen Nagar: Rs 1,600 per sq.ft (2024)
• Anbalagan Street(S.No.69): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total cost to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amman Street?

The Sub Registrar Office that covers Amman Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It is used to calculate the stamp duty and registration fees that are payable at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the duties.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. It is essential for buyers and sellers to be familiar with the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Amman Street?

The current guideline value of Amman Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 115 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 1117% over the years.

What is the land classification of Amman Street?

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

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 98,000, and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which Sub Registrar Office covers Amman Street?

The Ambattur Sub Registrar Office covers Amman Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.