Guideline Value for AANDI STREET

Aandi Street guideline value

The current guideline value of Aandi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Aandi Street has changed

The guideline value for Aandi Street has undergone several revisions over the years. The earliest recorded value was Rs 699 per sq.ft in 2002, which increased to Rs 777 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 900 per sq.ft in 2007, reflecting a 16% increase. Following this, the value saw a significant jump to Rs 3,000 per sq.ft in 2012, which remained unchanged until the 2023 revision.

In 2023, the guideline value was set at Rs 3,000 per sq.ft, and it increased by 10% to reach Rs 3,300 per sq.ft in the 2024 revision. Notably, there was no recorded figure for Aandi Street in the 2017 revision.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that Aandi Street's 2024 figure is below this median.

• Aandi Manya Thottam: Rs 3,300 per sq.ft (2024)
• Abiramapuram 1st Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 2nd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 3rd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 4th Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram East 1st Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Aandi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Aandi Street?

Aandi Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for additional information.

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

The guideline value is crucial during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When engaging in a property transaction, the guideline value helps both buyers and sellers understand the minimum value at which a property can be registered. This value is essential for calculating the taxes and fees associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Aandi Street?

The current guideline value of Aandi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 372% over the years.

What is the stamp duty rate for properties on Aandi Street?

The stamp duty rate for properties in Aandi Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, while Aandi Street's value is below this median.