Guideline Value for ANBALAKAN CROSS STREET

Anbalakan Cross Street guideline value

The current guideline value of Anbalakan Cross Street in Palavakkam village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Anbalakan Cross Street has changed

The guideline value for Anbalakan Cross Street has seen significant changes over the years. The earliest recorded figure is from 2002, where 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, a remarkable increase of 225%. In 2012, the value remained at Rs 2,000 per sq.ft, showing no change from the previous figure. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,900%. There are no figures available for revisions in the years not mentioned in the register.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value, 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, and the guideline value of Anbalakan Cross Street is below that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making a total of Rs 1,98,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Anbalakan Cross Street?

Anbalakan Cross Street is covered by 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 plays a crucial role during the registration of property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is sold, the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the government receives the correct amount based on the prevailing property values in the area.

Frequently asked questions

What is the current guideline value of Anbalakan Cross Street?

The current guideline value of Anbalakan Cross 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 registration fee for property in Anbalakan Cross Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Which office handles registrations for Anbalakan Cross Street?

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

What factors determine the stamp duty for properties in Palavakkam?

The stamp duty is determined based on the guideline value or the sale price of the property, whichever is higher. It is essential for buyers to be aware of these values to calculate the correct stamp duty.