Guideline Value for INDHRA AMMAIYAR STREET

Indhra Ammaiyar Street guideline value

The current guideline value of Indhra Ammaiyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indhra Ammaiyar Street has changed

The guideline value for Indhra Ammaiyar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 94 per sq.ft, which increased to Rs 111 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and the value remained unchanged at Rs 2,000 per sq.ft in 2012. The next revision in 2023 saw the value remain at Rs 2,000 per sq.ft, before the latest increase to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

Notably, there is no figure available for this street for the year 2017. Overall, from 2002 to 2024, the guideline value has increased by 2240%, reflecting the changes in the market over the years.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, positioning Indhra Ammaiyar Street's 2024 value above this median.

• Immanuvel Main Road: Rs 1,320 per sq.ft (2024)
• Immanuvel Cross Street: Rs 1,320 per sq.ft (2024)
• Immanuvel 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Immanuvel 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Immanuel Street: Rs 1,650 per sq.ft (2024)
• Ilango Adigal Street / Periyar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indhra Ammaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indhra Ammaiyar Street?

The Sub Registrar Office that covers Indhra Ammaiyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Pallikaranai. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value as per the government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indhra Ammaiyar Street?

The current guideline value of Indhra Ammaiyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 94 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with several revisions in between, including a significant increase of 400% from 2007 to 2012.

What is the land classification of Indhra Ammaiyar Street?

Indhra Ammaiyar Street is classified as Residential Class II Type - I.

Where can I find the registration office for Indhra Ammaiyar Street?

The registration office for Indhra Ammaiyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties on Indhra Ammaiyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.