Guideline Value for ANDAL NAGAR

Andal Nagar guideline value

The current guideline value of Andal Nagar, located in Sivabootham village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Andal Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This value saw a significant decrease in the 2017 revision, dropping to Rs 1,005 per sq.ft, which represents a decline of 33%. However, from 2017 to 2023, the value increased dramatically by 49%, bringing it up to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Andal Nagar.

• Bharathi Nagar: Rs 1,130 per sq.ft (2024)
• Chettiyar Agaram Main Road: Rs 1,650 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Ganapathypuram: Rs 1,120 per sq.ft (2024)
• Indira Nagar: Rs 1,120 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, totaling Rs 1,15,500, while the registration fee is 2%, amounting to Rs 33,000. Together, the total cost for stamp duty and registration fee is Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andal Nagar?

The Sub Registrar Office that covers Andal Nagar 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. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Sivabootham. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When buying or selling property, it is essential to understand that the guideline value may influence the final sale price. The registration process requires that the stamp duty and registration fees are calculated based on this guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Andal Nagar?

The current guideline value of Andal Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Andal Nagar has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Andal Nagar?

Andal Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Andal Nagar?

The Sub Registrar Office for Andal Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property in Andal Nagar?

Stamp duty for property in Andal Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty and registration fee of Rs 1,48,500.