Guideline Value for ANBALAKAN STREET(MAIN ROAD)

Anbalakan Street(Main Road) guideline value

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

How the guideline value of Anbalakan Street(Main Road) has changed

The guideline value for Anbalakan Street(Main Road) has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the current 2024 value, Anbalakan Street(Main Road) has experienced a remarkable increase of 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 3,300 per sq.ft. Anbalakan Street(Main Road) is below this median value.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Anbalakan Street(Main Road)?

The Sub Registrar Office that covers Anbalakan Street(Main Road) 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 crucial factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Anbalakan Street(Main Road)?

The current guideline value for Anbalakan Street(Main Road) 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 from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Anbalakan Street(Main Road)?

Anbalakan Street(Main Road) is classified as Residential Class IV Type - I under the Neelankarai SRO.

What are the stamp duty and registration fees for properties here?

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 should I approach for property registration in Palavakkam?

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