Guideline Value for Sri Amman Nagar

Sri Amman Nagar guideline value

The current guideline value of Sri Amman Nagar, located in Perungavur village under the Redhills SRO, is Rs 220 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Amman Nagar has changed

The guideline value for Sri Amman Nagar has undergone several revisions over the years. Starting from Rs 12 per sq.ft in 2003, it increased significantly to Rs 100 per sq.ft in 2007. The value then rose to Rs 200 per sq.ft in 2012, before decreasing to Rs 134 per sq.ft in 2017. The 2023 revision set the value at Rs 200 per sq.ft, which was then increased to Rs 220 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2003 to 2024, the overall increase in the guideline value is Rs 220 per sq.ft, which represents a substantial 1733% rise. Notably, the value saw a remarkable increase of 733% from 2003 to 2007, followed by a 100% rise from 2007 to 2012. However, there was a decline of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 275 per sq.ft, making the current guideline value of Sri Amman Nagar below this median.

• Sri Ashtalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Avenue: Rs 220 per sq.ft (2024)
• Sree Subha Amman Nagar: Rs 900 per sq.ft (2024)
• Sri Balaji Nagar: Rs 385 per sq.ft (2024)
• Sri Bhagawathi Nagar: Rs 275 per sq.ft (2024)
• Sri Dhanalakshmi Nagar Phase I: Rs 220 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 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty charged at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400. Together, the total cost for stamp duty and registration fees would be Rs 19,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Sri Amman Nagar?

The Sub Registrar Office that covers Sri Amman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungavur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government. Buyers should be aware that the guideline value will influence the overall cost of the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sri Amman Nagar?

The current guideline value of Sri Amman Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12 per sq.ft in 2003 to Rs 220 per sq.ft in 2024, with various revisions in between, including a peak of Rs 200 per sq.ft in 2023.

What is the land classification for Sri Amman Nagar?

Sri Amman Nagar falls under the Residential Class III Type - I land classification.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at 7%.