Guideline Value for Sri Amman Nagar

Sri Amman Nagar guideline value

The current guideline value for Sri Amman Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Sri Amman Nagar has changed

Over the years, the guideline value of Sri Amman Nagar has seen several revisions. The 2007 revision set the value at Rs 340 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this value dropped to Rs 804 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 guideline value reflects an increase of 253%. 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 carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the guideline value for Sri Amman Nagar.

• Sri Amman Nagar Extn-I,II,III: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total 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, bringing the total cost to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Sri Amman Nagar area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. Ensuring that the transaction adheres to the guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sri Amman Nagar?

The current guideline value of Sri Amman Nagar 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 changed from Rs 340 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and has remained at Rs 1,200 per sq.ft since 2023.

What is the land classification for Sri Amman Nagar?

Sri Amman Nagar is classified as Commercial Special Type - I, which influences its guideline value and usage.

What are the stamp duty and registration fees for a property in Sri Amman Nagar?

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.

Which Sub Registrar Office should I contact for transactions in Sri Amman Nagar?

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