Guideline Value for SRI AMMAN NAGAR

Sri Amman Nagar guideline value

The current guideline value of Sri Amman Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Sri Amman Nagar has changed

The guideline value for Sri Amman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and currently stands at Rs 1,700 per sq.ft as per the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 13%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sri Amman Nagar's 2024 figure below this median.

• Sports Avenue: Rs 4,400 per sq.ft (2024)
• Sowdeeswari Nagar 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Sowdeeswari Nagar: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar Annex (Creek Street): Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Amman Nagar?

The Sub Registrar Office that covers Sri Amman Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process of properties in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

When selling property, the guideline value can also influence negotiations between buyers and sellers. Buyers often consider the guideline value as a benchmark for assessing the price of the property they are interested in, ensuring that they are making an informed decision.

Frequently asked questions

What is the current guideline value of Sri Amman Nagar?

The current guideline value of Sri Amman Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is now Rs 1,700 per sq.ft in 2024.

What is the land classification of Sri Amman Nagar?

Sri Amman Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Sri Amman Nagar?

The Sub Registrar Office for Sri Amman Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Sri Amman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,700 per sq.ft, the total guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.