Guideline Value for ANBALAKAN 1ST STREET

Anbalakan 1st Street guideline value

The current guideline value of Anbalakan 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Anbalakan 1st Street has changed

The guideline value for Anbalakan 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 110 per sq.ft. This increased to Rs 123 per sq.ft in 2003, marking a 12% rise. The value then surged to Rs 400 per sq.ft in 2007, reflecting a significant increase of 225%. Following this, the 2012 revision set the value back to Rs 2,000 per sq.ft, a decrease of 400% from the previous revision. In 2017, the value was Rs 1,340 per sq.ft, which then rose to Rs 2,000 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years between 2012 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1900%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Anbalakan 1st Street's 2024 guideline value below this median.

• Anbalakan 2nd Street: Rs 2,200 per sq.ft (2024)
• Anbalakan 3rd Street: Rs 2,200 per sq.ft (2024)
• Anbalakan Cross Street: Rs 2,200 per sq.ft (2024)
• Anbalakan Street (Main Road): Rs 2,200 per sq.ft (2024)
• Ambedkar 2nd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Anbalakan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Anbalakan 1st Street?

The Sub Registrar Office that covers Anbalakan 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Palavakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the transaction.

When a property is sold, the sale price must be compared to the guideline value. The higher amount will be used to calculate the applicable duties and fees, ensuring that the registration process adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Anbalakan 1st Street?

The current guideline value of Anbalakan 1st Street is Rs 2,200 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 110 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1900%.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Anbalakan 1st Street?

The Neelankarai Sub Registrar Office handles the registration for Anbalakan 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Anbalakan 1st Street?

Anbalakan 1st Street falls under the Residential Class IV Type - I land classification.