Guideline Value for ANAND GARDEN

Anand Garden guideline value

The current guideline value of Anand Garden, located in Korattur village under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - III land classification.

How the guideline value of Anand Garden has changed

The guideline value for Anand Garden has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decline to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 1,600 per sq.ft.

Between the 2023 and 2024 revisions, there was a change of +7%. From 2017 to 2023, the increase was +49%. The 2012 to 2017 period saw a decrease of -33%, while the 2007 to 2012 period experienced a remarkable increase of +500%. Overall, from 2007 to 2024, the guideline value has increased by +540%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Anand Garden's 2024 figure below that median.

• Ananthalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar Extension: Rs 1,600 per sq.ft (2024)
• Amman Koil Street @ Nagathamman Koil Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Anbu Nagar: Rs 2,100 per sq.ft (2024)
• Andal Koil Street (Madanankuppam): Rs 1,600 per sq.ft (2024)
• Andal Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Anand Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Anand Garden?

The Anand Garden area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties adhere to the legal requirements and that the transaction is transparent and fair.

Frequently asked questions

What is the current guideline value of Anand Garden?

The current guideline value of Anand Garden is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. Overall, from 2007 to 2024, the value has increased by +540%.

What is the land classification for Anand Garden?

Anand Garden is classified as Residential Class III Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Anand Garden?

The Villivakkam Sub Registrar Office covers Anand Garden and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in Anand Garden?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,12,000 at a rate of 7%.