Guideline Value for ANBALAKAN 2ND STREET

Anbalakan 2nd Street guideline value

The current guideline value of Anbalakan 2nd 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 is classified as Residential Class IV Type - I.

How the guideline value of Anbalakan 2nd Street has changed

The guideline value for Anbalakan 2nd Street has seen several revisions over the years. In 2002, the value was Rs 110 per sq.ft, which increased to Rs 123 per sq.ft in 2003, marking a 12% rise. The value then experienced a significant increase of 225% to reach Rs 400 per sq.ft in 2007. Following this, the value surged by 400% to Rs 2,000 per sq.ft in 2012. However, it dropped by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision saw an increase of 49%, bringing the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it by 10% to the current value of Rs 2,200 per sq.ft.

There are no figures available for the revisions in years other than those listed. The guideline value has increased overall by 1,900% from 2002 to 2024.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Anbalakan 2nd Street's 2024 figure below this median.

• Anbalakan 1st 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 2nd 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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Anbalakan 2nd Street?

The Sub Registrar Office that covers Anbalakan 2nd 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 a critical factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Anbalakan 2nd Street?

The current guideline value of Anbalakan 2nd 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, marking an overall increase of 1,900% over this period.

What is the stamp duty for property in Anbalakan 2nd Street?

The stamp duty for property in Anbalakan 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the guideline values of other streets in Palavakkam?

Other streets in Palavakkam have varying guideline values. For instance, Anbalakan 1st Street, Anbalakan 3rd Street, Anbalakan Cross Street, and Anbalakan Street (Main Road) all have a guideline value of Rs 2,200 per sq.ft, while Ambedkar 1st Street and Ambedkar 2nd Street are valued at Rs 1,100 per sq.ft.