Guideline Value for ANDAL NAGAR

Andal Nagar guideline value

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

How the guideline value of Andal Nagar has changed

The guideline value for Andal Nagar has seen several revisions over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, there was a significant rise to Rs 500 per sq.ft in 2007, and then it jumped to Rs 1,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,005 per sq.ft. The most recent revisions show that the guideline value increased to Rs 1,500 per sq.ft in 2023, and further to Rs 1,660 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 783%. Notably, there are no figures available for the revisions in the years not listed for this street.

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 guideline value is Rs 1,660 per sq.ft, placing Andal Nagar's 2024 figure at this median level.

• Andal Nagar 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 1 To 5 Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 2nd Cross Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 3rd Cross Street: Rs 1,660 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 1,660 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, while the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 more information.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

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

Frequently asked questions

What is the current guideline value of Andal Nagar?

The current guideline value of Andal Nagar 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, with various revisions in between.

What is the land classification of Andal Nagar?

Andal Nagar falls under Residential Class III Type - I land classification.

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 properties in Andal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 at a rate of 7%.