Guideline Value for Athiaman Nagar 1st Street

Athiaman Nagar 1st Street guideline value

The current guideline value of Athiaman Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Athiaman Nagar 1st Street has changed

The guideline value for Athiaman Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The most recent revision in 2024 shows a substantial increase of 64% from the 2017 figure, bringing the current guideline value to Rs 3,300 per sq.ft.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Athiaman Nagar 1st Street.

• Athiaman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Athiaman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Avwai Nagar: Rs 2,700 per sq.ft (2024)
• Ashok Avenue 7th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 6th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Athiaman Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Athiaman Nagar 1st Street?

The Sub Registrar Office that covers Athiaman Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor used during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Athiaman Nagar 1st Street?

The current guideline value of Athiaman Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 230% over the years.

What is the land classification for Athiaman Nagar 1st Street?

Athiaman Nagar 1st Street is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.