Guideline Value for Sri Amman Nagar Extn-I,II,III

Sri Amman Nagar Extn-I,II,III guideline value

The current guideline value for Sri Amman Nagar Extn-I,II,III is Rs 1,200 per sq.ft. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this property is Commercial Special Type - I.

How the guideline value of Sri Amman Nagar Extn-I,II,III has changed

Over the years, the guideline value for Sri Amman Nagar Extn-I,II,III has seen several revisions. In 2007, the guideline value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 390%. However, from 2012 to 2017, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 1,200 per sq.ft. The most recent revision in 2024 maintained this figure, indicating no change from the previous year. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value for Sri Amman Nagar Extn-I,II,III is equal to this median.

• Sri Amman Nagar: Rs 1,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Sivasakthi Nagar: Rs 1,200 per sq.ft (2024)
• Siva Nagar: Rs 1,200 per sq.ft (2024)
• Sri Kamakotti Nagar: Rs 1,200 per sq.ft (2024)
• Sri Karumari Amman Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Amman Nagar Extn-I,II,III

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Amman Nagar Extn-I,II,III?

The Sub Registrar Office that covers Sri Amman Nagar Extn-I,II,III is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Sri Amman Nagar Extn-I,II,III?

The current guideline value for Sri Amman Nagar Extn-I,II,III is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then dropping to Rs 804 per sq.ft in 2017, and finally returning to Rs 1,200 per sq.ft in 2023 and 2024.

Which Sub Registrar Office covers this area?

The Gooduvancheri Sub Registrar Office covers Sri Amman Nagar Extn-I,II,III, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. This is calculated based on the guideline value or the sale price, whichever is higher.

What land classification is Sri Amman Nagar Extn-I,II,III?

Sri Amman Nagar Extn-I,II,III is classified as Commercial Special Type - I, which influences its guideline value and potential use.