Guideline Value for ANANTHA VELU 1ST CROSS STREET

Anantha Velu 1st Cross Street guideline value

The current guideline value of Anantha Velu 1st Cross Street is Rs 6,400 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Anantha Velu 1st Cross Street has changed

The guideline value has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 650%. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, followed by a rise to Rs 6,400 per sq.ft in 2024, reflecting a 7% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 700%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, and Anantha Velu 1st Cross Street's 2024 figure is above this median.

• Anantha Velu Mudali 1st Street: Rs 6,400 per sq.ft (2024)
• Anantha Velu Mudali 2nd Street: Rs 6,400 per sq.ft (2024)
• Anantham Samajyam Street: Rs 4,300 per sq.ft (2024)
• Anantha Velu Mudali 3rd Street: Rs 6,400 per sq.ft (2024)
• Anantha Velu Mudali Street: Rs 6,400 per sq.ft (2024)
• Anbazhagan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Anantha Velu 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 6,400 per sq.ft, the guideline value amounts to Rs 64,00,000. The stamp duty at 7% would be Rs 4,48,000, and the registration fee at 2% would be Rs 1,28,000, totaling Rs 5,76,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Anantha Velu 1st Cross Street?

The Sub Registrar Office that covers Anantha Velu 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

When registering a property, buyers must be aware that the duty is charged based on the higher of the guideline value or the sale price. This means that even if the sale price is lower than the guideline value, the buyer will still need to pay the duty based on the guideline value.

Frequently asked questions

What is the current guideline value of Anantha Velu 1st Cross Street?

The current guideline value of Anantha Velu 1st Cross Street is Rs 6,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 6,400 per sq.ft in 2024, reflecting an overall increase of 700% over the years.

What is the land classification of Anantha Velu 1st Cross Street?

Anantha Velu 1st Cross Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 5,76,000.

Which office handles registrations for Anantha Velu 1st Cross Street?

The Purasaivakkam Sub Registrar Office handles registrations for Anantha Velu 1st Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai-600 012.