Guideline Value for ANDAL NAGAR SEKMANIAM 1 TO 9 STREET

Andal Nagar Sekmaniam 1 To 9 Street guideline value

The current guideline value for Andal Nagar Sekmaniam 1 To 9 Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Andal Nagar Sekmaniam 1 To 9 Street has changed

The guideline value for Andal Nagar Sekmaniam 1 To 9 Street has undergone several revisions since 2002. The register shows the following figures: in 2002, the value was Rs 188 per sq.ft, which increased to Rs 216 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, followed by a substantial jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,660 per sq.ft in 2024.

In terms of changes between revisions, from 2002 to 2024, the overall increase is 783%. The most notable change occurred between 2007 and 2012, where the value increased by 400%. The value then decreased by 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects an increase of 11%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, which is equal to the guideline value of Andal Nagar Sekmaniam 1 To 9 Street.

• Andal Nagar Main Salai: Rs 1,660 per sq.ft (2024)
• Andal Nagar Annex: Rs 1,660 per sq.ft (2024)
• Andal Nagar 9th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 8th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 7th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 6th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar Sekmaniam 1 To 9 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200. Together, the total cost for stamp duty and registration would be Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Andal Nagar Sekmaniam 1 To 9 Street?

The Sub Registrar Office that covers Andal Nagar Sekmaniam 1 To 9 Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction reflects a fair valuation according to the government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the property transaction.

Frequently asked questions

What is the current guideline value of Andal Nagar Sekmaniam 1 To 9 Street?

The current guideline value of Andal Nagar Sekmaniam 1 To 9 Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 188 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of 783% over this period.

What is the stamp duty for property in Andal Nagar Sekmaniam 1 To 9 Street?

The stamp duty for property in this area is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200.

Which office handles the registration of properties in this area?

The registration of properties in Andal Nagar Sekmaniam 1 To 9 Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Andal Nagar Sekmaniam 1 To 9 Street?

The land classification for Andal Nagar Sekmaniam 1 To 9 Street is Residential Class III Type - I, indicating its designation for residential use.