Guideline Value for shri ambal nagar malligai avenue

Shri Ambal Nagar Malligai Avenue guideline value

The current guideline value for Shri Ambal Nagar Malligai Avenue is Rs 2,740 per sq.ft, effective from 1 July 2024. This location falls under Poonthamallee village and is classified as Residential Class I Type - I, governed by the Poonamallee SRO.

How the guideline value of Shri Ambal Nagar Malligai Avenue has changed

The guideline value for Shri Ambal Nagar Malligai Avenue has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft by 2012, marking a rise of 525%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, an increase of 49%, before reaching the current value of Rs 2,740 per sq.ft in 2024, reflecting a 10% rise.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 585%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Shri Ambal Nagar Malligai Avenue above this median.

• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Ethiraj Naidu Avenue: Rs 2,740 per sq.ft (2024)
• Shri ambal nagar: Rs 2,740 per sq.ft (2024)
• Shri ambal city: Rs 2,740 per sq.ft (2024)
• Shri Bakthavatchalam avenue 559/2,560,561,564: Rs 2,200 per sq.ft (2024)
• Shrenivasa nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Ambal Nagar Malligai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, resulting in a total of Rs 2,46,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri Ambal Nagar Malligai Avenue?

The Sub Registrar Office that covers Shri Ambal Nagar Malligai Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Poonthamallee, as it determines the amount of stamp duty and registration fees payable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately assess costs associated with property transactions.

When a property is registered, the guideline value serves as a benchmark for the minimum price at which the property can be sold. This ensures that all transactions are recorded at a fair value, contributing to the transparency and integrity of the real estate market in the area.

Frequently asked questions

What is the current guideline value for Shri Ambal Nagar Malligai Avenue?

The current guideline value for Shri Ambal Nagar Malligai Avenue is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 400 per sq.ft in 2007, rising to Rs 2,500 per sq.ft in 2012, then dropping to Rs 1,675 per sq.ft in 2017, and increasing to Rs 2,500 per sq.ft in 2023 before reaching Rs 2,740 per sq.ft in 2024.

What is the median guideline value for streets in Poonthamallee?

The median guideline value for streets in Poonthamallee is Rs 2,200 per sq.ft, with Shri Ambal Nagar Malligai Avenue exceeding this median value.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,46,600 in fees.

Which office handles property registrations for Shri Ambal Nagar Malligai Avenue?

The Poonamallee Sub Registrar Office handles property registrations for Shri Ambal Nagar Malligai Avenue, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.