Guideline Value for AANDAVAR NAGAR

Aandavar Nagar guideline value

The current guideline value of Aandavar Nagar, located in Kolathuvancheri village, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Aandavar Nagar has changed

Over the years, the guideline value for Aandavar Nagar has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, there was a decrease to Rs 603 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 900 per sq.ft, and the most recent 2024 revision increased it further to Rs 990 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in guideline value is 98%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The jump from 2023 to 2024 reflects a 10% increase.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. Aandavar Nagar's 2024 guideline value is below this median.

• Abirami Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Achari Street: Rs 1,320 per sq.ft (2024)
• Annai Abirami Nagar: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Aandavar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aandavar Nagar?

Aandavar Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair valuation.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Aandavar Nagar?

The current guideline value of Aandavar Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 98% over the years.

What is the land classification of Aandavar Nagar?

Aandavar Nagar is classified as Residential Class IV Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for property in Aandavar Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Aandavar Nagar?

The Chennai South Joint I Sub Registrar Office covers Aandavar Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.