Guideline Value for Athiaman Nagar 2nd Street

Athiaman Nagar 2nd Street guideline value

The current guideline value of Athiaman Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Athiaman Nagar 2nd Street has changed

The guideline value for Athiaman Nagar 2nd Street has seen several revisions over the years. In 2007, 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, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 64% increase from the 2017 figure.

Notably, the register has no figures for this street for the years 2023, 2003, and 2002. 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 value is Rs 3,300 per sq.ft, which matches the 2024 figure for Athiaman Nagar 2nd Street.

• Athiaman Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. 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 Athiaman Nagar 2nd Street?

Athiaman Nagar 2nd Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kolathur. It serves as the basis for calculating the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Athiaman Nagar 2nd Street?

The current guideline value of Athiaman Nagar 2nd 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 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 classification of land in Athiaman Nagar 2nd Street?

Athiaman Nagar 2nd Street is classified as Residential Class I Type - I, indicating its use 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 the registration of properties in the area.

How is the 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, on a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of that value.