Guideline Value for ANANDAM COLONY

Anandam Colony guideline value

The current guideline value of Anandam Colony is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Anandam Colony has changed

The guideline value for Anandam Colony has seen significant changes over the years. In 2002, the guideline value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, and then surged to Rs 8,000 per sq.ft in 2012. However, this value dropped to Rs 5,360 per sq.ft in 2017 before climbing to Rs 8,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 909%. Notably, there are no figures available for the revisions in the years not mentioned in the register for this street.

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 is Rs 8,800 per sq.ft, which is equal to the guideline value of Anandam Colony.

• Anandapuram: Rs 8,800 per sq.ft (2024)
• Ananda Salai: 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 Anandam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be 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 guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Anandam Colony?

The Sub Registrar Office that covers Anandam Colony is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value according to government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Anandam Colony?

The current guideline value of Anandam Colony 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 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 909% over this period.

What is the stamp duty for property in Anandam Colony?

The stamp duty for property in Anandam Colony is 7% of the guideline value, which amounts to Rs 6,16,000 for a property valued at Rs 88,00,000.

Where is the Sub Registrar Office for Anandam Colony located?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the stamp duty and registration fees during property transactions.