Guideline Value for Amman nagar 1st Street

Amman nagar 1st Street guideline value

The current guideline value of Amman nagar 1st 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, and is classified as Residential Class I Type - III.

How the guideline value of Amman nagar 1st Street has changed

The guideline value for Amman nagar 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a significant increase from the previous years where there are no figures available for 2002, 2003, 2007, and 2012. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, marking a 49% increase from the 2017 figure.

The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, which represents a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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 these streets is Rs 2,750 per sq.ft, which is the same as the current value for Amman nagar 1st Street.

• Amman Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Amman Nagar: 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 1st 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 at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Amman nagar 1st Street?

The Sub Registrar Office that covers Amman nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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 minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Amman nagar 1st Street?

The current guideline value of Amman nagar 1st Street 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 changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024, showing a total increase of 64% from 2017 to 2024.

What is the land classification for Amman nagar 1st Street?

Amman nagar 1st Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for a property in Amman nagar 1st Street?

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 office handles registrations for Amman nagar 1st Street?

The Velacheri Sub Registrar Office handles registrations for Amman nagar 1st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.