Guideline Value for ANANDA SALAI

Ananda Salai guideline value

The current guideline value of Ananda Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for Ananda Salai is Residential Class III Type - III.

How the guideline value of Ananda Salai has changed

The guideline value of Ananda Salai has seen significant changes over the years. In 2002, the guideline value was Rs 1,740 per sq.ft. It increased to Rs 1,933 per sq.ft in 2003, marking a rise of 11%. The value then saw a slight increase to Rs 1,950 per sq.ft in 2007, which was a 1% increase. After that, the value surged to Rs 8,000 per sq.ft in 2012, a substantial increase of 310%. However, it decreased to Rs 5,360 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 8,000 per sq.ft in 2023, showing a significant increase of 49%. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 406%. There are no figures available for the revisions in years other than those specified.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Ananda Salai.

• Anandapuram: Rs 8,800 per sq.ft (2024)
• Anandam Colony: Rs 8,800 per sq.ft (2024)
• Ammaniammal Street: Rs 8,800 per sq.ft (2024)
• Andal Nainiyappan Street: Rs 8,800 per sq.ft (2024)
• Andhu Street: Rs 8,800 per sq.ft (2024)
• Alamelu Mangapuram: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ananda Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. 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 further calculations.

Which Sub Registrar Office covers Ananda Salai?

The Sub Registrar Office that covers Ananda Salai is 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Mylapore. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared to the sale price to determine the applicable duties. If the sale price is higher than the guideline value, the duty is calculated based on the sale price. Therefore, understanding the guideline value is essential for all parties involved in a real estate transaction in Mylapore.

Frequently asked questions

What is the current guideline value of Ananda Salai?

The current guideline value of Ananda Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,740 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 406%.

What are the stamp duty and registration fees for properties in Ananda Salai?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000, and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles property registrations in Mylapore?

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

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure proper compliance with legal requirements.