Guideline Value for New Amaranjipuram

New Amaranjipuram guideline value

The current guideline value of New Amaranjipuram is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of New Amaranjipuram has changed

The guideline value of New Amaranjipuram has seen significant changes over the years. The 2007 revision set the value at Rs 600 per sq.ft. This figure remained until the 2023 revision, which increased it to Rs 1,200 per sq.ft, marking a 100% increase from 2007. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

In the most recent revision, effective from 1 July 2024, the guideline value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for New Amaranjipuram is below this median.

• New Chetty Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 5th Cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Amaranjipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 New Amaranjipuram?

The Sub Registrar Office that covers New Amaranjipuram is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction.

Frequently asked questions

What is the current guideline value of New Amaranjipuram?

The current guideline value of New Amaranjipuram is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking a total increase of 117% over this period.

What is the stamp duty for property in New Amaranjipuram?

The stamp duty for property in New Amaranjipuram is 7% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

What is the registration fee for property transactions?

The registration fee is 2% of the guideline value or sale price, whichever is higher. Using the same example of Rs 13,00,000, the registration fee would amount to Rs 26,000.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can also find more information by visiting the link provided.